Bankruptcy & Collection Actions

Companies have financial obligations to many different parties. When a business hires people to work, they have an obligation to fulfill the promises made regarding that employment, including the payment of wages. Companies also have financial obligations to local and federal government agencies because they must collect and pay taxes. Businesses can also incur additional financial obligations to creditors that help them fund expansions, suppliers who do not demand payment up front, and shareholders or investors that use their own More +

Business owners often want to ensure their organization is successful in creating value and bringing in profits. However, there may be some cases where a business does not achieve those goals for an extended period, which can push it into bankruptcy. While owners may hold some level of responsibility, there are several reasons why bankruptcy can occur. Causes of Chapter 11 These are a number of factors that may contribute: State of the market: If the overall economy or the business’s More +

The decision to file for Chapter 7 bankruptcy is never an easy one. Even if you understand the pros and cons, you may still have some reservations about pushing forward. This is natural, as filing for bankruptcy is one of the biggest financial decisions you’ll ever make. Understanding the primary advantages of Chapter 7 bankruptcy will help you decide if it’s the right decision for you at the present time: A new financial beginning: For the most part, Chapter 7 bankruptcy gives you More +