Standing Tall When It Matters Most
If a company goes bankrupt, shareholders in Texas and elsewhere may lose a significant amount of money. However, the extent of their losses typically depends on what type of protection they seek from creditors. Companies that seek Chapter 7 protection typically cease...
Business loan workouts are modifications to existing loans for the purpose of making more affordable payments. Borrowers are allowed to avoid defaulting on a loan and continue operating the business. For business owners in Texas, a restructured plan is recommended...
Debt restructuring is a way for an entity, like a person or business, to manage their excess debt without going through bankruptcy. It is a useful financial tool with a lot of applications for Texas residents. Restructuring Debt When a person or company operates, they...
All types of business owners in Texas file for bankruptcy to repay debts that cannot be forgiven or eliminated. Whether it's Chapter 7, 11 or 13 bankruptcy, the process involves having to pay one-time and recurring fees, penalties and interest. There is an affordable...
Buying a franchise is a great way to start a business in Texas, yet entrepreneurs need a considerable amount of money to begin operations. Some franchisees may not make it and will eventually need to file bankruptcy. However, what will happen to your franchise...
Most people associate Chapter 7 bankruptcy with consumers who have accumulated a significant level of debt and need a fresh financial start. However, Chapter 7 bankruptcy can also be filed by Texas businesses that need to unload specific debts as well. It is even...
The leaders of a failing company have several options for dealing with the situation. They can go into damage control mode and attempt to restructure. This usually occurs during a Chapter 11 bankruptcy. The company can also shut down completely and liquidate its...
If you're thinking about filing for business bankruptcy or are a creditor in a litigant's case, you're probably wondering how the process is and how creditors will be affected. Creditors are an important part of the bankruptcy process, and in Chapter 11 bankruptcies,...
Rushed liquidations may cost creditors billions of dollars annually. Restructuring and reviving businesses instead may be better for everyone. Chapter 11 protects businesses and helps get them a fresh start. Through Chapter 11, creditors can recoup most of what they...
There are many misconceptions about a business filing bankruptcy in Texas. For example, the business doesn't always cease operation, as commonly believed. What happens to the business depends on the type of bankruptcy and the owner's goals. Chapter 7 bankruptcy for...
