Bergen County Business Debt Restructuring Attorney
Is Debt Restructuring without Bankruptcy a Better Choice for your Business?
If your business debts are mounting and your creditors are calling, you may be eager to run to bankruptcy court. It can be tempting to seek the protection of bankruptcy when your business problems are taking its toll. When you are struggling to keep your business afloat, it is difficult to pause, take a breath, and carefully evaluate all your options. Bankruptcy may not be the best solution for your troubled business. You may be able to restructure your business and debt by negotiating a private workout plan for your business debts, which can save you thousands of dollars in legal fees and provide you with more control than bankruptcy. To know more about your legal options, contact The Radol Law Firm for a consultation.
Why your Creditors May Prefer a Business Debt Restructuring Plan to Bankruptcy
Our clients are often surprised to learn that their creditors are very willing to negotiate a private workout plan for their business debt. A private workout plan is attractive to business creditors because it offers significant advantages over Chapter 7 and Chapter 11 business bankruptcy.
- Your business creditors realize they may get no further payment if you file Chapter 7 business bankruptcy.
- Your business creditors understand they will lose control over your debt repayment plan if you file Chapter 11 business bankruptcy.
- Many creditors would rather enter into a private business debt restructuring agreement rather than get involved with the formal legal process of business bankruptcy.
Choose an Experienced New Jersey Business Debt Restructuring Attorney Who Knows Business
The Radol Law Firm works closely with all our business clients to develop and negotiate customized business debt restructuring plans. Our attorneys have both academic training and practical experience in business finance. With over 30 years of experience, our firm can help you avoid bankruptcy when business debt restructuring is a better option.
Contact The Radol Law firm in Bergen County for a Free Consultation
The Radol Law Firm represents small businesses in New Jersey in negotiating business loan workouts and debt restructuring to avoid or eliminate liens, repay debts, and enable the business to recover and continue operating. If you face a terrible financial situation and believe that your only hope is bankruptcy, contact our firm first. We will happily assess your situation, guide you through your legal options, and help you make informed decisions that benefit your future. Bankruptcy may not be the best course of action. Contact The Radol Law Firm to discuss your matter further.