Category Archives for "Financial Problems"

Mar 17

What Do I Do If My Business Has Financial Problems

Blog , Business Debt , Chapter 12 Bankruptcy , Chapter 13 Bankruptcy , Declaring Bankruptcy , Financial Problems , General Bankruptcy

One of the least asked questions startup entrepreneurs ask themselves is, “What will I do if the business has financial problems?”  There are lots of seminars and courses that talk about business plans, marketing, operations, and accounts receivable management, but rarely do these seminars or courses address how the entrepreneur should deal with financial difficulties.  […]

Read More
Sep 21

Money Issues We Don’t Talk About; But Really Should

Blog , Credit & Credit Scores , Creditors & Credit Cards , Declaring Bankruptcy , Financial Problems , General Bankruptcy

We don’t talk about things that make us feel uncomfortable, and many people are very uncomfortable talking about their financial problems.  Often, people with such problems will hide all evidence of financial distress. Some people do this with a misguided sense of protecting their loved ones.  If I don’t tell my spouse about the problems […]

Read More
Sep 21

Will my doctor (or dentist or landlord or friend that I owe money to) get notice of the bankruptcy?

Blog , Debt Collection , Declaring Bankruptcy , Financial Problems , General Bankruptcy

Yes.  The court will mail a notice to all creditors.  That notice will show the names of the debtor(s), the filing date, and the date set for the Meeting of Creditors.  It will also show the deadline by which any creditor may file a request to have the discharge denied or to object to the […]

Read More
Sep 01

Steps to Take When You See Your Debt Mounting Before It Gets Out of Control

Blog , Business Debt , Debt Collection , Declaring Bankruptcy , Financial Problems , General Bankruptcy

  How can you tell if your debt is out of control? There are various signs that a person has too much debt.  These indicators include the following: You don’t know the balances on your accounts.   You have made minimum payments for three or more successive months.  This signals an inability to reduce the […]

Read More
Jul 15

Can I Sell My Equipment or Livestock and Use the Proceeds to Stay in Business?

Chapter 12 Bankruptcy , Farm & Industrial , Financial Problems

“Can I sell my equipment and use the proceeds to stay in business?” is a fairly common question we receive from business owners.  Similar questions come from farmers asking about the sale of livestock or feed.  The answer requires an analysis of the security agreement for the assets. That agreement describes the terms of the […]

Read More
Feb 26

Your Business: How Reorganizing Can Keep You Doing What You Love

Blog , Business Debt , Chapter 11 Bankruptcy , Farm & Industrial , Financial Problems

Your Business: How Reorganizing Can Keep You Doing What You Love.

The odds are, your small business won’t be around 5 years from now. About half of all the businesses that started this year will close their shutters within 5 years later. Why do all these businesses fail? Both studies and common knowledge suggest many reasons. Including: changing economy, new or unanticipated competition or unforeseen disasters.  […]

Read More