By Lamar Hawkins
A former business bankruptcy client called the other day. Her company successfully emerged from Chapter 11 much stronger than when they first met with me several years ago. But the process of bankruptcy taught her that when a company has value, creditors get paid.
Owning a business, and most importantly staying in business, is challenging. Aiken Schenk bankruptcy attorneys Heather Macre and Lamar Hawkins discuss critical things to do with your company to keep you out of bankruptcy.
There are several steps you can take to avoid bankruptcy. Before filing, it’s important to weigh all of your options.
Avoiding bankruptcy takes more than just paying your debts. There are several steps you can take early on to prevent it from happening. Keep your company and yourself protected and take precautions – it will save you a headache.
Chapter 7, 13, and 11 bankruptcies are three types of bankruptcy that are typical for individuals and businesses, each of which fits a specific set of needs. Consulting an attorney can help determine which type suits you. Call Lamar Hawkins or Heather Macre to assess what you need, and Aiken Schenk’s Heather Macre explains each type in the video below.
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