Author Archives: Jay Butchko
Closing Your Small Business
With the lingering impacts of the COVID-19 pandemic, businesses continue to face numerous challenges. For a small business, weathering shutdowns, fluctuations in profits, and labor shortages may have taken a toll. Making the decision to close your business is never easy but once made, you can begin moving in a more positive direction. Find… Read More »
What Can — And Can’t — Be Discharged In Chapter 7 Bankruptcy For Small Business Sole Proprietors
As the sole proprietor of a small business, struggling with sluggish sales and losses in profits can be devastating, both professionally and personally. After pouring your own money into the venture, you may be faced with mounting debts and harassing credit collections actions. Filing for Chapter 7 business bankruptcy can help provide the fresh… Read More »
Business Bankruptcy And Your Employees: 4 Important Issues
If you are a business owner and have a company that is currently struggling, filing a business bankruptcy may provide the best possible solution. Eliminating unsecured debts while liquidating assets or restructuring contracts can address the problem, allowing you to make a fresh start. However, if you employ others, their rights and general well-being… Read More »
Can Filing For Bankruptcy Protect Your Business Against Lawsuits?
A business bankruptcy offers numerous benefits for company owners who are struggling with outstanding debts. In addition to allowing you to liquidate assets, eliminate unsecured debts, and negotiate payment terms on contracts, it also grants you an automatic stay. This prevents your creditors from taking further collections actions against you, including lawsuits. Find out… Read More »
Business Bankruptcy Fraud: What It Is And How To Avoid It
Filing a business bankruptcy in New York can help to salvage a floundering company. It can also help in liquidating assets and eliminating outstanding debts, giving you the fresh start you need if the best course of action is to close your business. Bankruptcy is designed to help honest debtors facing financial problems, but… Read More »
How An Automatic Stay Protects You Against Creditor Claims In Business Bankruptcy
When your business falls on tough times and you have trouble meeting your debts, harassing calls and threatening actions on the part of creditors only make matters worse. Filing for business bankruptcy in New York can provide a solution to your financial problems while also putting an immediate step to collections actions. Find out… Read More »
Debt Consolidation Loans Versus Business Bankruptcy
Falling on hard times as a business owner is a humbling experience. While it is common to feel as if you are the only one struggling, the fact is that you are not alone. Many businesses go through difficult periods where they have trouble meeting their obligations. The number of debt consolidation loan offers… Read More »
Last Minute Payments To Certain Creditors Can Create Major Problems In Business Bankruptcy
Seeing your business suffer and debts go unpaid is one of the most frustrating experiences. Particularly if you have close and long-term relationships with certain creditors, it is natural to want to find a way to pay them prior to filing for business bankruptcy in New York. This is a potentially dangerous situation. Referred… Read More »
Common Mistakes Small Business Owners Make When Filing For Bankruptcy
As a small business owner, unexpected expenses and losses in profits can create major problems in both your personal and professional life. Filing for bankruptcy can provide a solution and is designed to provide the fresh start you need. Find out common mistakes to avoid during the process. The Biggest Mistake: Not Knowing When… Read More »
Companies That Bounced Back After Filing For Bankruptcy
Filing for Chapter 11 bankruptcy can help a struggling business stay afloat. Through the process of eliminating certain unsecured debts and restructuring payments on others, bankruptcy can provide the financial fresh start you need. Unfortunately, business owners often fail to pursue this as an option until it is almost too late. A common reason… Read More »