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How to Avoid Filing Chapter 11 in Connecticut
As a business representative either starting out or having emerged from financial distress by filing for Chapter 11, you are no doubt anxious to avoid the circumstances and behaviors that contribute to economic instability. You want to see your company mature and stabilize to find permanence in your community.
At Attorney Joseph J. D'Agostino, Jr., LLC in Wallingford, Connecticut, we are also concerned about the viability of your company. We work with businesses to devise ways to avoid bankruptcy, but we are also there to help you should you need to file Chapter 11. For information on how we can help, contact us today.
Avoiding Bankruptcy
If your business is doing fairly well, but circumstances have occurred that make you worried about secured or unsecured debt — cash flow problems or slumps in the economy — there are steps you can take to avoid having to declare bankruptcy. At Attorney Joseph J. D'Agostino, Jr., LLC, we want our clients to have the information they need for business sustainability. If you are at all worried about the possibility of financial distress, consider the following advice:
- Negotiate with your creditors individually. Try to work out a manageable plan of repayment that does not overtax you economically.
- Try to avoid high-expense debt. In other words, tighten your belt during economic slumps. Look for ways to economize.
- Don’t overextend yourself on credit. Do not make credit card purchases you cannot pay off at the end of the month and do not rely on credit cards as quick money to pay for business-related purchases.
When Bankruptcy Is Unavoidable
If your situation has far surpassed the time where these recommendations would be of any benefit, we encourage you to speak with our attorney immediately. Business reorganization through Chapter 11 can bring about an automatic stay and help you find instant relief from harassing creditors. More importantly, you can continue to own and operate your business.
Choose the law firm that is committed to helping you achieve your business goals of financial stability. At Attorney Joseph J. D'Agostino, Jr., LLC, we can help you find the debt relief you need to help you stabilize. If you would like to meet with bankruptcy lawyer Joseph D'Agostino, please contact our firm today. Call us at 203-377-9994 or 203-265-5222.
