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. American Finasco, Inc.
can also help a business merge their debt through
business debt consolidation processes.
Although filing a business bankruptcy might seem 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: The Ideal Alternative to a Business Bankruptcy
[Posted on May 19, 2008]
For those companies that are experiencing financial instability, bankruptcy can usually be the worst case scenario facing your business. While practically all businesses try to avoid dreaded bankruptcy, for those with extensive cash flow problems and an abundance of debt it can be very difficult to find an alternative to filing. If you have a small to moderate sized business and you are experiencing serious financial problems and contemplating bankruptcy, you should know about American Finasco. American Finasco offers the ideal alternative to a business bankruptcy.
Filing a Business Bankruptcy Can be Extremely Difficult with Today’s Laws
Today, it is more difficult than ever to file a business bankruptcy. The bankruptcy laws have recently changed in 2005 making it extremely difficult for both business bankruptcy and personal bankruptcy. If you are having difficulty keeping your business afloat due to large amounts of debt and cash flow problems, filing for bankruptcy is not the answer. With today’s business bankruptcy laws, you will be required to report a lot more information than in the past and the courts in many cases can and will take control of your business. Another problem with filing for bankruptcy is that it can cost upwards of $50,000 to file for chapter 11- making business bankruptcy a choice that most business owners don’t want to make.
American Finasco Offers an Alternative to Business Bankruptcy
American Finasco offers an alternative to business bankruptcy helping all of its businesses manage their debt. American Finasco offers a debt resolution plan. We don’t require you to make monthly payments to an escrow account, we actively manage your money to pay down delinquent debts and give you the time and resources to take care of getting your business back on its feet.
While our team of experts are managing your debt responsibilities, we also help you save large amounts of money that would be spent on court fees and lawyers- instead helping you to pay off debt to creditors. With our service, we can help get your business back to stability in as short a period as possible- ultimately avoiding business bankruptcy.
American Finasco Offers Experience and Effective Strategies
American Finasco has been around for over 20 years and has helped over 10,000 clients. We have the experience, strategies and resources available to help you avoid business bankruptcy and instead get your business back on its feet for the future. For more information about our debt restructuring program, please contact us directly today.
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