There are many times when people wonder if bankruptcy will be the right choice for them. Choosing bankruptcy could help you get out of debt, restructure your business or set up repayment plans that work for what you owe. However, a bankruptcy can also be harmful to...
Year: 2020
We are breaking big myths about chapter 11 and business bankruptcies
In the work of business and commerce in Texas, knowing the truth about bankruptcy and other financial matters is vital to your success. With that said, we want all business owners in the Austin area to first understand that they are not alone in facing severe...
Debt control options for small Texas businesses
Regardless of the industry, owning and operating a small business is challenging, especially in the economic environment of the 21st century. Most Austin, Texas, business owners face extremely difficult odds in terms of achieving financial success. When you factor in...
Remington returns to Chapter 11 bankruptcy
Every so often, shocking news breaks about a well-known company filing for bankruptcy. Remington remains a popular fixture in Texas gun stores and around the United States, yet the company recently filed for Chapter 11 bankruptcy protection. Chapter 11 bankruptcy is a...
What if my creditors bother me after I file for bankruptcy?
People who have filed for bankruptcy, often mention the relief of not having to worry each time the mail arrives or an unknown number calls. Like a wrestler tapping the canvas to concede defeat, filing for bankruptcy ends the immediate battle and allows you to get...
It may be better to file for bankruptcy sooner rather than later
The world has changed a lot this year. If you own a small or medium-sized business in Austin, things may be looking bleak. Six months ago, bankruptcy may never have crossed your mind. Now it may be a real possibility. Yet, if you have worked hard to build up your...
What’s a distressed asset sale?
If a business is in trouble and looking for a quick infusion of cash to stay afloat, a distressed asset sale may be a convenient solution. It can also create unique opportunities for others to acquire the property on the cheap. In a distressed asset sale, a business...
The Small Business Reorganization Act
The Small Business Reorganization Act came into force in February this year (2020). It makes it easier and cheaper for small businesses to file for Chapter 11 bankruptcy. A small business needing to file for bankruptcy has two options: Chapter 7 or Chapter 11. Filing...
Business bankruptcy: Is Chapter 7 a good idea?
While many businesses flourish with seemingly little effort, there are many more that have financial struggles. If your company falls into that second category, it’s imperative that you think carefully about how you’re going to handle the situation. Is a Chapter 7...
Chapter 11 bankruptcies can save businesses
Texas residents may associate Chapter 11 bankruptcies with major corporations like General Motors, American Airlines and Macy’s, but small business owners may also seek debt relief by filing a Chapter 11 petition. While the vast majority of people who file for...
