Debt Management used to fix directors personal debt issues Frequently directors of a small business borrow in their own name to invest in the company. If the business subsequently fails, the director will be responsible for this debt. As a result, directors of failed businesses often find themselves struggling with personal debt which they cannot … Read more
What Is Bankruptcy? Federal bankruptcy law (Title 11 of the United States Code, otherwise called the “Bankruptcy Code”) was enacted to allow the honest debtor, who is unable to meet his/her financial obligations, to obtain a fresh financial start or to reorganize his/her financial affairs. Bankruptcy law accomplishes this goal by providing debtors with a … Read more
The number one worry for managers and owners of companies undergoing a chapter 11 bankruptcy restructuring is: will my business survive? Of course they do have many other worries such as meeting with creditors, creating a turnaround plan, paying employees on time and working with suppliers. One way to ensure the success of the restructuring … Read more
Although, opinions differ on many accounts, a timely advice especially in case of debts is essential as it saves you on many fronts. As advices always become immensely important, in case of avoiding insolvency, it plays a major role in preventing you enter into debt trap. It isn’t a bad idea to take financial and … Read more
Struggling with debt can be a difficult and stressful situation, and it’s easy to feel like you will never be able to find a way out. More and more people are getting into trouble with debt these days, yet many are unaware of what help is available. In reality, even people with severe debt problems … Read more