Avoiding Bankruptcy With Commercial Debt Restructuring
While Chapter 7 and Chapter 11 bankruptcies are an option for many businesses, they are not the right solution for other businesses in default of their obligations. There are ways to avoid bankruptcy through workouts and financial restructuring. At Kaplan & Moon, PLLC, our lawyers will help you decide whether alternatives to bankruptcy are appropriate for your business.
Charles Kaplan has been helping financially strapped businesses find solutions through loan workouts and financial restructuring for over 30 years. Mr. Kaplan can help Texas businesses resolve financial issues both in and outside of bankruptcy court. We will work with you and your creditors to determine whether these options are appropriate for your business.
What Are The Benefits Of A Workout And Restructuring?
Businesses that want to avoid some of the costs associated with bankruptcy may want to consider negotiating a workout or financial restructuring. This out-of-court process is ideal for businesses that do not want to go through the rigors and expense of bankruptcy. This process is a cost-effective procedure that allows you to work with your creditors to create a plan to restructure your debts.
This process may allow your business to negotiate its debts in a way that helps it regain profitability and liquidity. It is a way for you to resolve these matters without the involvement of the bankruptcy court.
Working With Creditors To Renegotiate Debts
The sooner you consult an attorney, the more likely you will be able to negotiate a workout or financial restructuring with creditors. Many creditors will share the goal of returning your business to financial health, often to ensure that a greater percentage of their debts are satisfied. We will work with creditors to devise strategies to resolve financial issues between debtors and creditors by providing efficient solutions or through a loan workout or restructuring.
This process must be done early on; waiting too long may make it impossible to deal with creditors outside bankruptcy. To learn more about your options, call 214-522-4900 or email the firm in Dallas, Texas.