With the new year about to start, many companies are reviewing their financial situation in order to help set their goals for the upcoming year. Some business owners may end up seeing some things they don’t like during such reviews.
Chapter 11 bankruptcy can provide an important route forward for businesses that are struggling with debt. However, companies can encounter challenges when it comes to pursuing this route. Some argue that this may especially be the case for small businesses.
Entrepreneurs have fallen victim to a growing scam that uses a legal document as a weapon to strip away funds from growing companies. The fraud also relies on the New York court system and an owner’s eagerness to expand into new markets.
A predatory lending scheme that has blossomed in the past two years has been generating billions of dollars for the lending companies, millions for the agencies that enable the scheme and has driven thousands of small businesses across the country out of business.