Business Debt Relief Without Bankruptcy Through Skilled Negotiation
Many businesses experience cash flow disruptions as their operations and general business conditions change. If their financial situation grows more difficult, some of these businesses may consider filing for Chapter 11 bankruptcy relief or perhaps undertaking a restructuring or reorganization effort. Suppliers and customers may react negatively to these developments, however. To avoid these ramifications and protect the reputation of the firm, companies facing the prospect of bankruptcy should consider a workout as an alternative.
Minnillo Law Group Co., LPA, can assist Ohio and northern Kentucky businesses in workout situations. Call us at 513-723-1600 for a free, no-obligation consultation. We may be able to help your company achieve debt relief without bankruptcy.
The Elements Of A Successful Workout
In a workout, a debtor company works closely with creditors to identify the scope of the financial problems and develop a comprehensive debt relief plan, involving partial forgiveness of specific debt obligations, consolidation of debts, reduced interest rates or extended loan terms. It may or may not involve a reorganization of the company’s financial structure, asset holdings and operations.
Minnillo Law Group Co., LPA, has extensive experience in workout situations. We can advise and represent you in all aspects of the process. We have particular experience in these elements of workouts:
- Negotiation – Our attorneys can negotiate debt reductions and more favorable payment terms with banks and lenders. We can also negotiate with nonsecured creditors such as equipment lessors and suppliers, and renegotiate lease terms with landlords.
- Tax considerations – In a workout, it is essential to consider the tax implications of the workout. Our firm can evaluate the impact of taxes on proposed transactions and recommend the optimal decisions.
The experienced business lawyers at Minnillo Law Group Co., LPA, understand financial transactions and the practical realities of business operations. We will recommend and implement a workout strategy designed to relieve the debt burden and restore your enterprise to financial health.
We have offices in Cincinnati, Fairfield, Eastgate, and Covington. Evening and weekend appointments are available.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.