If you are a business owner, you are likely relying on the success of your business to make a profit. However, it is a fact that even profitable businesses incur some financial hardship. If your debts are mounting and you are worried about the future of your business, rest assured you have solutions at your disposal. For one, you can restructure your business debt. Follow along to learn more about debt restructuring and how a proficient Rockland County business debt restructuring attorney from the Law Offices of Allen A. Kolber, Esq. can guide you through each phase of the process ahead.
How can debt restructuring benefit my New York business?
Initially, you may be quick to file for Chapter 7 or Chapter 11 business bankruptcy to seek protection from creditors who are acting aggressively toward you. Or, you may think its easier to just call if quits and shut down your business. However, these are not the best options made available to you.
Put simply, debt restructuring may benefit your New York business because it can privately renegotiate or restructure delinquent debt with banks, lenders, and/or creditors. By doing so, you can pay off your debts at a more affordable rate, improve your liquidity, improve your profitability, and ultimately prevent your business from closing its doors forever.
How can an attorney help with the debt restructuring of my New York business?
While you are not technically required to hire an attorney when undergoing the debt restructuring process, it is greatly encouraged that you do so. For one, creditors prefer the debt restructuring process over the bankruptcy process because they have more control over the renegotiating. So with a talented Rockland County business bankruptcy attorney, we have the right knowledge that will even the playing field.
Our firm has decades of experience negotiating on behalf of business owners to help them keep their businesses and remain profitable, and we are prepared to put that knowledge and dedication to our clients to work for you as well. If you are looking to restructure your debt, you are in the right place, and we will work to ensure we attain a positive outcome on your behalf. If you have any further questions, simply pick up the phone and give us a call today.
Contact our experienced New York firm
If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options.
