Business Bankruptcy

24 Mar What To Do If You Are a Creditor In a Bankruptcy?

Most of the posts on this blog, and in fact on most bankruptcy blogs, focus on the consumer as the bankruptcy debtor.  That makes sense--most bankruptcy cases involve a consumer debtor and a number of institutional creditors, like banks and credit card companies.  And those banks...

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20 Nov How to file bankruptcy – What are Executory Contracts and Unexpired Leases in bankruptcy?

List your executory contracts and unexpired leases on your bankruptcy petition and declare your intention either to accept or to reject those contracts. Contracts that are not timely assumed are rejected and the parties are released from further performance under those contracts. An executory contract is...

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28 Oct 5 Reasons Every Small Business Owner Needs To Consult With A Bankruptcy Attorney

Dual TrackingDid you ever hear a business owner talking about their Bankruptcy Attorney? Imagine you are at a cocktail party and you hear a small business owner say: "I've got the best Bankruptcy Attorney in town." or " My Bankruptcy Attorney saved me a fortune." This never happens, but it should. Business owners are too busy running their businesses to think about things that have nothing to do with running the business, well almost nothing. When they need advice, they meet with management and accountants rather than a bankruptcy attorney. However, when a business owner is at a cross-road and the you know what hits the fan, guess who they are in a hurry to meet with? That's right, their favorite bankruptcy attorney. I wish more small business owners would make it a priority to discuss their financial issues with a bankruptcy attorney before the fan gets turned on. The way I see it, there are 5 main areas where a bankruptcy attorney can provide support and advice to many small business owners. 1. Cash Flow Analysis 2. Debt Management and Debt Restructuring 3. Credit Issues 4. Collecting Receivables 5. Disaster Planning.
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