Testimonials

From the President of a Gift Catalog Company in MD

I would like to extend my appreciation to American Finasco for the outstanding results of the service that was provided to my company. I discovered American Finasco through their website during my search for an organization that assisted commercial businesses experiencing financial distress. We assigned 127 creditor claims that totaled $315,643.00.

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Chapter 11

Chapter 11 Can Be Avoided with the Help of American Finasco

[Posted on July 21]

For those businesses that are having difficulties staying solvent, bankruptcy can seem like a viable option. Many businesses look to the courts for some breathing room and reprieve from creditors and debt. While bankruptcy can be a viable option for businesses that have genuinely failed, for those businesses that still have a committed team and can get back on their feet with some help, chapter 11 is not the answer. If your company is having financial difficulties, one of the ways that American Finasco can help is with a comprehensive debt restructuring plan. Here is how.

Chapter 11 is Not Always the Best Solution
Chapter 11 may look good to a business on paper, but it reality it can be a nightmare. Many businesses don’t realize what they have gotten themselves into until it’s too late. Besides the negative mark on a business’s record, Chapter 11 gives an extreme amount of control to the courts to pay off debt to creditors. The court may first ask business owners to go personal bankrupt if significant debt is due to personal expenses. In addition, the court can require an enormous amount of record keeping and research which can be very time consuming and labor intensive. The court can also take control of your business leaving you with less of an option to gain financial stability and the ability to bring it to profitability. Finally, filing fees and legal fees can be extreme and many businesses that go Chapter 11 look back and wish they could have paid off debt with these costs than file.

American Finasco Can Help Your Business Climb Out of Debt
American Finasco has the experience and know-how to help almost any type or size business avoid chapter 11, climb out of debt and once again become financially solvent. American Finasco has been helping businesses for over 20 years and during this time, they have assisted thousands upon thousands of businesses take hold of their own destiny. With a wide variety of resources and specific strategies tailored to a business’s special needs, we can not only come up with a solution to pay off your debt, but also help you streamline your business and create a road map to prosperity.

You may think your situation is unique, but we have seen almost all types of issues and have helped businesses with them succeed. For more information regarding how to avoid chapter 11 and restructure your debt, please contact us directly.

 

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Stephen Wright and Guest Mitch Vicknair, American Finasco - Price of Business