When your small Florida business falls on hard times, you can struggle to pay off all your debts. Between vendors, suppliers, your employees and the IRS, you can end up with multiple unpaid bills that affect your business. When you reach this state, you may consider...
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chapter 11 bankruptcy for businesses
Review your options for a Chapter 11 bankruptcy
If you're a South Florida business owner who is struggling to keep your company solvent and your doors open, it can be quite frustrating to juggle bills every month and never manage to pay them all. In fact, you might even worry whether you will be able to continue...
Will I have to liquidate assets under Chapter 11?
Small business owners with a lot of debt may decide to seek relief through a Chapter 11 bankruptcy. In some cases, it might be possible to continue operating your business during the pendency of your proceedings. Filing for Chapter 11 allows business owners to...
What is an ‘automatic stay’ in a Chapter 11 bankruptcy?
One benefit to debtors who file a Chapter 11 bankruptcy is the automatic stay. This procedure temporarily halts all collection activities, including repossessions, foreclosures and judgments. The automatic stay takes effect upon the filing of the bankruptcy petition...
New rules proposed for debt collections
Are you inundated by calls from debt collectors? Their efforts may be about to expand to other methods of communication if new rule proposals are implemented. The Consumer Financial Protection Bureau (CFPB) has proposed changing the rules for contacting debtors. To...
How do I tell if filing for Chapter 11 bankruptcy is wise?
Depending on the type of business you operate here in Florida, your profits may be cyclical. Often, the profits made during the summer months at the height of the tourist season must carry the business through the leaner seasons. That can be a tough go for some owners...
Small business files for Chapter 11 bankruptcy
Last month, one East Coast publication company sought Chapter 11 bankruptcy protection after it was unable to pay off several high-interest loans it had taken out in recent years. On Feb. 12., the company, Johnny Hanna & Associates LLC, filed papers indicating...
The valuation process for business bankruptcy
Owning a business is one of the most difficult things you can do in life, even if you have years of experience doing so. It doesn't get any easier when you have to deal with significant financial trouble and are considering bankruptcy. Today, we will explain the...
Could your business be saved by filing for Chapter 11?
Being a small business owner has its perks, but it is not for the faint of heart. Especially in the first few years when there are operational costs that might exceed the revenue generated, it can feel like a losing proposition. That makes it challenging to know when...
Could filing for Chapter 11 bankruptcy save your business?
If Black Friday sales failed to get your small business out of the red, you may have to seek further debt solutions like a Chapter 11 bankruptcy. While bankruptcy shouldn't be your first choice for a solution to your debt problem, it can be an effective way to...