If your business is struggling to stay afloat and you want to shut your doors, then it may be time to think about entering into a Chapter 7 bankruptcy. A Chapter 7 business bankruptcy lets you liquidate your assets to cover the debts you owe. However, you do need to...
Business and commercial bankruptcies
Signs that signal a business is in financial trouble
Every business owner wants their company to be successful. It’s often very difficult for them to accept the signs that their company is in financial trouble. The issue with this is that they might ignore the financial trouble for so long that the company crashes, and...
Bouncing back from business and commercial bankruptcy
In the Texas and across the United States, most business and commercial bankruptcies occur due to an economic downturn or lack of business friendly laws in a particular state. During a bankruptcy proceeding, the federal court requires the business owner or the company...
No business is bankruptcy-proof
It may be easy to think of your business as one that is safe from bankruptcy. Maybe you have a company history stretching back decades. Maybe it feels like the business is too big to fail. Perhaps you offer things that you believe consumers will always want or need,...
What are some alternatives to a business bankruptcy?
Individuals and businesses who find themselves swimming in debt often think that bankruptcy is their only option for resolving their financial problems. It's not the only choice that they have, though. Businesses can consider receiverships, compositions and...
Is it better to sell your assets or seek bankruptcy?
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...
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...
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...
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...
