Author Archives: Jay Butchko
Contributing Factors That Continue To Drive Business Bankruptcy Filings Due To COVID-19
Over the course of 2020, the situation surrounding COVID-19 took a heavy toll. In addition to potentially life-threatening health impacts, widespread lockdowns, mask mandates, and social distancing all had dramatic effects on us individually and on businesses. While the situation has improved since then, there are still concerns about high case counts. There also… Read More »
How Business Bankruptcy Applies To Your Commercial Lease
When your business is in trouble and you are falling behind on bills, making commercial lease payments is likely to be one of your biggest challenges. Find out how you can address this issue through business bankruptcy, whether you opt to close or remain open and reorganize your debts. When Your Business in Closing:… Read More »
Chapter 7 Bankruptcy In New York: Signs Its Time To Close Your Business
Owning your own business is often a lifelong dream and you may have invested significant amounts of both time and money to ensure its success. Despite your best efforts, it may not work out quite the way you planned. Wondering whether it is time to pull the plug and close your business? The following… Read More »
Preparing For A Chapter 11 Business Bankruptcy
Part of owning a business is anticipating future trends. This often proves challenging, particularly when the forecast is grim. Recognizing the signs that your business is in serious trouble and taking action to avoid potentially negative consequences can help ensure your company remains open. This often includes accepting the fact that filing a business… Read More »
Closing Your Small Business
With the lingering impacts of the COVID-19 pandemic, businesses continue to face numerous challenges. For a small business, weathering shutdowns, fluctuations in profits, and labor shortages may have taken a toll. Making the decision to close your business is never easy but once made, you can begin moving in a more positive direction. Find… Read More »
What Can — And Can’t — Be Discharged In Chapter 7 Bankruptcy For Small Business Sole Proprietors
As the sole proprietor of a small business, struggling with sluggish sales and losses in profits can be devastating, both professionally and personally. After pouring your own money into the venture, you may be faced with mounting debts and harassing credit collections actions. Filing for Chapter 7 business bankruptcy can help provide the fresh… Read More »
Business Bankruptcy And Your Employees: 4 Important Issues
If you are a business owner and have a company that is currently struggling, filing a business bankruptcy may provide the best possible solution. Eliminating unsecured debts while liquidating assets or restructuring contracts can address the problem, allowing you to make a fresh start. However, if you employ others, their rights and general well-being… Read More »
Can Filing For Bankruptcy Protect Your Business Against Lawsuits?
A business bankruptcy offers numerous benefits for company owners who are struggling with outstanding debts. In addition to allowing you to liquidate assets, eliminate unsecured debts, and negotiate payment terms on contracts, it also grants you an automatic stay. This prevents your creditors from taking further collections actions against you, including lawsuits. Find out… Read More »
Business Bankruptcy Fraud: What It Is And How To Avoid It
Filing a business bankruptcy in New York can help to salvage a floundering company. It can also help in liquidating assets and eliminating outstanding debts, giving you the fresh start you need if the best course of action is to close your business. Bankruptcy is designed to help honest debtors facing financial problems, but… Read More »
How An Automatic Stay Protects You Against Creditor Claims In Business Bankruptcy
When your business falls on tough times and you have trouble meeting your debts, harassing calls and threatening actions on the part of creditors only make matters worse. Filing for business bankruptcy in New York can provide a solution to your financial problems while also putting an immediate step to collections actions. Find out… Read More »
