How can you Avoid Business Bankruptcy?
Confronted with declining revenues and increasing costs, over three million small businesses have closed their doors during this recession. Unfortunately many have chosen Bankruptcy as the only way out. It is for most small business owners confronted with this problem, the only solution to bone crushing debt as the small business cannot withstand such pressure.
We have the alternative to bankruptcy and a far better solution, ridding the business of the debt and sharply reducing personal guaranties to affordable losses, all while preserving the business operation. This is a solution that works.
At Second Wind Consultants, we specialize in implementing successful debt workout and business turnaround strategies for our small business clients. Moreover, we can provide you with an experienced crisis management and business turnaround team that will push your business forward—out of bankruptcy, and into financial success. Survive, emerge and succeed, only with a workout, not with a bankruptcy.
Bank debt, vendor debt, lease debt, tax debt, owner take back debt can all, be worked out without bankruptcy and the high likelihood of loosing your business to liquidation through bankruptcy.
A debt workout resulting in debt forgiveness while preserving the business assets is the solution, not bankruptcy.
Why is Small Business Debt Consolidation a Trap?
Beware, some debt “consultants” including your bank will tell you to consolidate your debt—also known as small business debt consolidation or modification, pushing out the amortization and possibly reducing the interest, or even a few months of forbearance, where you pay interest only or nothing for a few months. They will tell you that through consolidation or modification, you can cure your business cash flow issues. These are empty promises. You may slightly improve your cash flow but your business still cannot afford the amount of debt and the debt service it must pay monthly even when modified.
The only real relief comes from debt forgiveness, through a workout.
To learn more about our strategies visit our debt help blog, or set-up a no-obligation, in depth consultation phone call with our team.