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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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Corporate Bankruptcy

Strategies to Avoid Corporate Bankruptcy

[Posted on November 13, 2008]

If you are a company that is experiencing financial difficulties mainly due to debt, you are probably running out of options to save your business.  Debt has a way of creeping up on a business very quickly affecting cash flow, expansion plans or wreaking havoc forcing an owner to consider filing for bankruptcy or outright folding.  If your business is having a difficult time dealing with debt, but you have decent fundamentals and the will to succeed, one company that can assist you in avoiding corporate bankruptcy and help get you back on the track to profitability is American Finasco.  Here are just a few reasons why filing for corporate bankruptcy is not always the best choice and how we at American Finasco can offer you real solutions for your debt problems.

A Few Reasons to Avoid Corporate Bankruptcy
Many businesses find some comfort in filing for corporate bankruptcy, especially if they would like to have a clean slate or fresh start.  However, many businesses find out quickly that filing for corporate bankruptcy is not always the best idea.  In fact, with recent changes in the bankruptcy laws, it is much harder than ever to receive a clean slate and fresh start from the courts.

For those considering corporate bankruptcy some of the downsides of filing include:

  • Businesses that file for corporate bankruptcy and have a small amount of personal debt may be required by the courts to not only file for corporate bankruptcy, but personal bankruptcy as well.
  • If you are a business that is struggling to stay afloat, flexibility is extremely important.  Unfortunately, when a company files for bankruptcy, the court may assert extreme controls over your business, resulting in less flexibility which can be the final nail in the coffin.
  • Businesses that file for bankruptcy may not expect the extremely high cost of filing and legal fees.  In fact, filing for corporate bankruptcy can be so expensive; many business owners regret filing and instead wished they opted for renegotiating their debt down or utilized other debt strategies.

American Finasco Can be of Great Service
American Finasco can help your business avoid filing for corporate bankruptcy by offering a wide variety of resources and strategies to get your business back on track to success.  We offer a whole host of options including debt consolidation, business loans, debt counseling, debt management and others.  With our 20 years of experience, we are confident that we can help you avoid corporate bankruptcy and get your business back on the right track.

 

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