I just finished helping a Southern California business wind down its affairs and resolve matters with its creditors without a bankruptcy filing. The creditors did far better than they would have in a bankruptcy. We created a soft landing for the business, its owners and its creditors. Did so using a technique I created and have used multiple times with great success. If your business is having financial challenges, hiring an experienced and creative debt restructing lawyer can make all the difference in the world and save you many sleepless nights.
Cash flow management is key to small-business success
The long-term health of any business revolves around cash flow – what money comes in and what goes out. Ideally, more comes in than goes out over the long haul, but there inevitably will be periods where that is not the case.
Simple steps to eliminate business debt
Debt is part of running a business. Hiring employees, investing in equipment and participating in industry tradeshows all costs money, and can be a smart use of borrowed funds. But debt can also can sink an otherwise successful operation.
Is a debt consolidation loan right for you?
There is a reason the acronym KISS has stood the test of time. When a situation feels like it’s spiraling out of control, “keep it simple, stupid” can be the first step toward sanity.
5 Tips for Dealing With Debtors
Some customers go to any length to avoid paying, while others trickle in with small payments on a large amount due. Other business clients may encounter their own financial problems and simply are unable to pay.
Look Before You Leap Into A Merchant Cash Advance
Small business owners often find themselves in need of a quick influx of cash to keep the doors open. In this situation, many hear about a merchant cash advance (MCA). This is a one-time financing strategy in which a business receives a lump sum that can, on the surface, appear to be a lifesaver.
Small Business Debt Can Be Attacked Like Personal Debt
Small businesses are usually more nimble than larger companies. This can provide a distinct advantage in negotiating business partnerships, starting projects or entering into service agreements with vendors.
What Business Owners Don't Know About Overtime Laws Can Hurt Them
Entrepreneurs may be oblivious to how long their work day is, but they can’t be as dismissive of their workers’ hours. Here are four important laws regarding overtime in California that every business owner – and their managers – should know.
Is 'Creditors' Rights' an Oxymoron?
As a creditor, you do have rights, beginning with the right to challenge a debtor's right to discharge your debt. If the debtor is declaring Chapter 11, 12 or 13, you have a right to be heard in court regarding the debtor's liquidation and restructuring plan. And you may share in the distribution from the bankruptcy estate.
There’s Life After Bankruptcy for Small Businesses
Every entrepreneur launches a business with confidence it will succeed. Unfortunately, not all do. The Small Business Association (SBA) reports that three out of 10 small businesses fail within the first two years; half fail within the first five years and more than 6 in 10 (66 percent) fail within 10 years of opening.
