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Small Business Bankruptcy Archives

Consequences of misclassifying an employee

It's important to know the difference between employees and contractors to avoid misclassifying them. Treating a contractor like an employee without the burden of offering them benefits, providing workers' compensation or paying certain state and federal taxes can lead to costly lawsuits. 

Knowledge is power: reaching an informed debt-relief decision

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.

Equipment purchases: A common source of debt for small businesses

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.

Choosing between Chapter 11, Chapter 13 and Chapter 7 bankruptcy

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.

Big-name retailers tighten belts amid bankruptcy fears

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.

When debt financing leads to debt struggles

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.

Refinancing can also happen with business loans

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.

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