Sometimes business owners find themselves in a situation where
their liabilities have exceeded their assets and they are not able
to meet financial obligations. This can result in a business
bankruptcy. Bankruptcy could occur through mismanagement of
capital, not being able to compete in a particular market, or sometimes
because of personal issues such as failing health. In either case,
business bankruptcy is not a pleasant experience for anyone
to go through.
Business bankruptcy might have seemed an easy way out
for businesses facing debt in the past. However, executing a
business bankruptcy is not a smooth road as it once was, especially
for small businesses. New laws, such as the Bankruptcy Abuse and
Prevention and Consumer Protection Act of 2005, have made it more
difficult for owners in a business bankruptcy situation.
There is a significant increase in reporting requirements and paperwork,
a Bankruptcy Trustee will now examine your books, and sole proprietors
may have to file as individuals if their debt is deemed personal.
If you find yourself in circumstances involving a business bankruptcy,
you could be in for more than you anticipated.
However, there is an alternative to filing
Chapter 11 bankruptcy.
American Finasco, Inc. has a Debt Resolution Plan that is designed
to help owners in a business bankruptcy situation. First,
it will save owners the cost of filing
Chapter 11, which
can run as high as $50,000 for a small to medium size business.
This will benefit creditors because of the amount of cash left to
distribute. The American Finasco plan lowers legal costs with the
National Attorney Network, which works on a flat fee schedule. An
owner who has to file a personal bankruptcy as opposed to a
business bankruptcy will find the new rules are more favorable
to creditors. Harassing phone calls and letters from creditors,
collection agencies and attorneys are an unfortunate part of
tight cash flow that can lead to a
business bankruptcy. American Finasco, Inc. can eliminate
these harassments through its plan without the filling of a
business bankruptcy. Through a Power of Attorney,
American Finasco contacts each creditor or their representative
and advises them they we are now involved.
Although filing a business bankruptcy might seem like the only way
out, keep in mind a business bankruptcy leaves a negative
mark for 10 years, not seven. Also, an owner has to let attorneys
and the courts take control of their business. There are also the
headaches of having to attend court proceedings. Overall, a
business bankruptcy is not the easy way out.
American Finasco, Inc. basically manages your debt if you are
facing a business bankruptcy situation and leave you to
do the thing that you need to do the most – run your business.
American Finasco, Inc. has a plan that can help a business owner
get on the right track again, without placing them in more debt.
They also can help stave off some of the negatives associated with
a business bankruptcy. They can provide
debt relief for businesses in a
corporate bankruptcy or a
small business bankruptcy. American Finasco, Inc. is the perfect
alternative to a business bankruptcy.
American Finasco Offers an Option to Avoid Business Bankruptcy
[Posted on May 14]
With many businesses experiencing some of the toughest challenges due to the economy in several decades, more and more businesses are having an extremely difficult time making ends meet. If your business is deep in debt, you are no doubt not only considering the many options available, but also feeling overwhelmed and stressed. At American Finasco, we have helped a wide variety of companies avoid business bankruptcy- we may be able to help yours as well.
American Finasco Has the Experience that Matters
At American Finasco, we have been helping companies succeed for more than 20 years. If your company is having a tough time managing debt, American Finasco can help. We offer a comprehensive service to not only help you avoid business bankruptcy, but manage your debt appropriately so you can get back on track and once again prosper. Having been around for over two decades, our company has been able to focus in on the very strategies and resources that can be extremely effective to those deep in debt. This is why our service is rated as one of the top in the industry. No matter what the debt situation your business is experiencing, we may be able to help.
Business Bankruptcy is Not Always the Solution
While it is important to consider all options available to your company to avoid business bankruptcy, it should be noted that there are several downsides that one should be aware of when filing for bankruptcy. First off, recent changes to bankruptcy laws have made it much more difficult for companies to write off their debt. In addition, filing for bankruptcy and the legal fees associated with the process can be astronomical making many to regret not researching other –possibly less costly solutions. Finally, when a business goes through the bankruptcy process, a large amount of control is given to the courts, leaving businesses with very limited flexibility-when business owners need it most. If your company is in deep debt, it is important to consider all your options. While business bankruptcy can be the right choice for some companies, for others there are other more effective ways to reduce debt and get back on track.
Contact Us Today for More Information
For those that would like to avoid business bankruptcy, American Finasco may be able to help. We will be more than happy to consult with your company so that we can understand your specific issues and explain to you in detail our service. Contact us today for more information today.
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American Finasco: The Ideal Alternative to a Business Bankruptcy
Steer Clear of Business Bankruptcy with the Help of American Finasco
Avoid Business Bankruptcy Now with American Finasco
If Business Bankruptcy Looms we Offer Effective Options
When You Face Debt, Consider the Many Options
Business Bankruptcy Can Be Avoided
Business Bankruptcy is Avoidable |
