Bankruptcy Is Unexpected, Preparing Now Can Help You Later

Peaks And Valleys

The best times can become the worst of times quickly, and such economic downturns aren’t always predictable. Even if someone’s finances are well managed, their FICO score is honorable, and they do their best to live within their means, financial hardships can strike at any moment. It’s never an expected occurrence, and often leaves us feeling as if our lives are spiraling out of control.

Facing bankruptcy

It isn’t often talked about, but it is far more common than most realize. Bankruptcy happens to more than 1 million Americans every year. If you should find yourself looking into bankruptcy attorneys, then it is important to know that you are not alone.…

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3 Alternatives to Bankruptcy for Small Businesses

Small businesses go bankrupt. The Small Business Administration states that 50% of businesses survive past the five-year mark. This means half of the entrepreneurs that follow their dreams and start their own businesses will see their dreams go up in flames.

Bankruptcy

Business is a risk, and one late shipment or one lost contract can mean the difference between a business thriving or boarding up their windows.

There are options outside of bankruptcy that can stop a business from dissolving.

1. Direct Negotiating Outside of Court

Lenders will negotiate with a business outside of court. When negotiations take place away from the stringent requirements of the court, there are a plethora of benefits, such as:

  • Avoiding court proceedings, which allows a business to save money
  • Direct negotiations take far less time to complete
  • A plan to get back on a financial track will be drafted, and will work for all involved parties.
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How to Rescue Your Business from the Brink of Insolvency

There’s no denying that approaching insolvency is a problem that requires immediate attention. While it can feel a little scary, the best way to fix it quickly and simply is with a targeted, focused response. In other words, don’t push it to the back of your mind and hope that it handles itself. With just a few small changes to the way that you do business, you can put your affairs in order and start to better protect your investments.

Business owner dealing with business insolvency

Whether you’re struggling to meet monthly bills, being buried by an unsuitable administrative process, or desperately lacking in credit, there are steps that you can take to turn the situation around.…

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Deciding on Bankruptcy the Right Way

No one even wants to utter the words “bankruptcy” let alone visit your local bankruptcy attorney to start the proceedings. But there are times when making the decision to go through a bankruptcy can be actually smarter than trying to struggle through your current financial trouble. While we may read about famous people who struggle with a bankruptcy because it means they have to give up a famous bauble or let go of their pet tigers, for most of us the end result is relief.

Bankruptcy

So when does it make the most sense? Here are a few pointers that might tell you if you should be looking at it in your current situation.

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