Many business owners across Los Angeles and Southern California reasonably assume that reaching out to a bankruptcy attorney for debt-linked assistance will result in guidance that promotes the upsides of a bankruptcy filing.
One thing that can have big impacts on a company's success is what equipment it has. There are many industries in which having up-to-date equipment is critical for a business when it comes to staying competitive. Getting the machines, devices and technology one's company needs can be expensive. So, it is not uncommon for business owners to take on debt to buy new or upgraded equipment.
Owning a business is the dream of many entrepreneurs around California. And even after filing Chapter 7 bankruptcy to relieve past debts, many business owners do not abandon that dream.
The decision to file bankruptcy is not always an easy one for California business owners. They worry about how bankruptcy might impact their business and their own current finances.
Debt is nearly unavoidable these days. Students graduate from college with loans to pay back, and homeowners have mortgages hanging over their heads for years. Businesses are no exception to this trend.
Any business can encounter problems that seem insurmountable. When that happens, business owners have a serious decision to make: should we declare bankruptcy? Filing for bankruptcy helps individuals and businesses get a clean financial slate, but not every form of bankruptcy works for all businesses. For businesses, the right choice depends on how the company is organized – sole proprietorship, corporation, LLC, or otherwise.
We’re only into the second quarter of 2019 and it seems clear that this could be the year of the chain-retail-store bankruptcy. According to market analysts, retailers in the U.S. have reported the planned closure of nearly 6,000 stores.
Among the challenges that arise for entrepreneurs when getting a business started is securing the funding their new company needs. There are various options business owners have for addressing this issue. Among the main ones is debt financing.
There are many things that can lead to companies taking on significant debt. Sometimes, small businesses run into struggles keeping current with the payments on the loans they have taken out. When this occurs, there are a range of strategies small business owners could pursue to try to lower their payments and stabilize their debt situation.
There are a variety of reasons that a traditional bank loan might not be an available or attractive option for a given small business owner. Given this, it is important to remember that such loans are not the only financing avenue small companies can pursue. Among the recent trends for small businesses is a growth in alternative financing options.