When Should I Call a Bankruptcy Attorney?
Idaho attorney, Matt Christensen, shares 6 triggers in your business that may indicate that it is time to contact an attorney.
Bankruptcy Or Restructuring Lawyers
Let’s discuss when you should be contacting a bankruptcy or a restructuring attorney, especially with regard to your business or sometimes yourself personally.
A bankruptcy attorney normally does not only do bankruptcy. A good bankruptcy attorney will also be able to help you restructure your debt outside of a bankruptcy case, and will have negotiating skills where they can negotiate on your behalf with the creditors that may be pursuing you. So there are a lot of options when dealing with your debt, short of filing a bankruptcy that that attorney will be able to work with the banks on.
Signs it may be time to call an attorney
- The first time your business is going to miss a payment on time. This could be a loan payment, a vendor payment, etc. If you’re starting to feel that pressure that’s when you should be consulting an attorney.
- When you begin to think about taking out a merchant cash advance loan.
- If you have a maturity date that’s coming up on an existing loan that you don’t think you’ll be able to meet.
- If you are thinking of cashing out your personal retirement account to put funds into the business to keep the business running.
- If you are being sued by a creditor.
- A foreclosure sale pending
If you are experiencing any of these triggers, give our Boise or Twin Falls office a call and one of our bankruptcy attorneys to help you either avoid bankruptcy or help you put a restructuring plan in order.Tags:
- Bankruptcy Lawyer
- Business Bankruptcy
- Chapter 11 Bankruptcy
- Chapter 13 Bankruptcy
- Chapter 7 Bankruptcy