What Happens After Chapter 11 Bankruptcy is Over in Wisconsin?
Successfully completing Chapter 11 bankruptcy should be celebrated. It’s the end of an exceptionally tough period for a business owner – tough but reaffirming. It takes strength and a clear vision of your future to make it through the process. Having trusted partners beside you during and after your bankruptcy is key. These are people… Read more
When Is Debt Restructuring Better Than Bankruptcy in Wisconsin
Financial distress is a hole that’s difficult to dig out of on your own. Whether it results from student loans, medical bills, or a period of unemployment, being in debt is a stressful situation. If you realize that you have more bills than you can pay and are contemplating bankruptcy, talk to a professional who… Read more
How to Handle Secured vs. Unsecured Creditors in Wisconsin Bankruptcy
When a person or business falls on hard times financially, bankruptcy is an option for resetting the balance sheet. The penalty for declaring bankruptcy can be the loss of physical possessions through liquidation as well as the black mark on their credit score, which can last many years, preventing them from borrowing money and rebuilding…. Read more
Can You Get Business Loans After Bankruptcy in Wisconsin?
Getting back on your feet financially after a bankruptcy is a long-term project. Having a plan for recovery and growth is key. A bankruptcy stays on your credit report for years after the process is completed. That kind of “ding” announces to potential lenders that you made mistakes, that lending to you is risky, and… Read more
What Happens to Business Leases and Contracts in Chapter 11 Bankruptcy?
Chapter 11 bankruptcy is the method most often used by businesses that seek to continue operating. Called “reorganization bankruptcy,” the focus is on trimming unnecessary expenses and developing a profitable plan for moving forward. Businesses in Chapter 11 usually have many relationships to navigate in the process of reorganizing, including: What is an Executory Contract?… Read more
How to Communicate with Creditors During Chapter 11 Bankruptcy
Extending a businesses’ lifespan requires tinkering to maintain solvency. Over time, a lot of effort goes into staying abreast of industry fluctuations, changing officers, negotiating contracts, and keeping costs down. These tasks are all necessary to staying vital. Companies that can’t keep up with the necessary changes may lose money or viability. When the situation… Read more
What is DIP Financing and How Does it Work in Wisconsin Bankruptcy?
Chapter 11 bankruptcy provides companies an opportunity to restructure and return to profitability, but maintaining liquidity through lines of credit and loans during bankruptcy is a challenge. Liquidity and cash flow are the engine and fuel of business. Without a regular infusion of cash, it’s impossible to place orders, make payroll, advertise, invent, or expand…. Read more
Types of Debt Discharged by Chapter 11 Bankruptcy
Filing for bankruptcy doesn’t always mean a business will close – and it doesn’t mean all debts go away. Many companies and sole proprietorships resort to bankruptcy to reorganize while working to stay afloat. Discharging debt is a part of bankruptcy that allows a business to recover and keep moving forward. Read on to find… Read more
Exploring All Options Before Filing Business Bankruptcy in Wisconsin: What You Should Consider First
Making the decision to file for bankruptcy isn’t one that businesses should make lightly. It can dramatically change your finances and keep you from being able to run your business the way you want to. That’s why it’s important to explore all other options before asking your Wisconsin business bankruptcy attorney to file your bankruptcy… Read more