Out-Of-Court Debt Solutions
If your business is struggling with debt and facing insolvency, it is important to analyze all of your legal and financial obligations. Depending on your circumstances, you may be able to resolve your debt problems by restructuring your debt or negotiating a settlement with your creditors.
These out-of-court solutions can spare you the time and expense of litigation, and the uncertainties of bankruptcy. If you are seeking a debt workout or restructuring, it is important to have an experienced law firm protecting your interests. A mistake or oversight could prove costly, derailing your debt settlement goals and leaving you at square one.
Lesser-known options also include corporate dissolutions in the state court or statutory assignment for the benefit of creditors (known as an ABC). These options, if successful, can keep you out of the bankruptcy process altogether.
We can help you explore all of your options as you seek debt relief solutions for you or your business:
- Debt restructuring
- Debt negotiation
- Renegotiating interest rates
- Pledging collateral and restructuring security agreements
- Exchanging debt for equity
If none of these options prove viable, we can help you explore the option of Chapter 7 or Chapter 11 bankruptcy.
Debt problems can compromise business operations and limit liquidity. With skilled legal guidance, it may be possible to restructure your debt or negotiate a favorable workout with lenders. We will work with you personally to tailor a debt relief plan suited to the unique needs of you or your business.