Hartford Small Business Debt Relief
Hartford, CT SMALL BUSINESS FINANCIAL PROBLEMS AND SOLUTIONS
Hartford, CT Small business owners often suffer in difficult economic times. This usually begins with reduced paychecks and sometimes no pay at all. These business problems often connect directly to personal financial problems, starting a cycle of increasing debt service that negatively affects small business owners at work and also at home. Fortunately, this downward spiral is solvable with the prompt assistance of small business debt relief attorneys experienced in addressing and resolving the unique financial problems of small business owners.
If you're finding yourself unable to reverse your business financial difficulties, you need to contact an attorney specialized in the difficulties faced by small business owners in trouble. We have a history of success for Hartford area small business owners since 1983. Contact us today at 203-230-2233 or toll free at 1-888-249-3027.
The First Step to Resolving Small Business Financial Problems
A full professional analysis of your debt burden is the first step toward developing the options and alternatives necessary to regaining small business profitability. Most business owners are experts in their business but have very little knowledge or experience in solving business problems. Hartford small business owners in trouble need the benefit of outside advice from professional and experienced legal counsel with a history of returning small businesses back to profitability.
Experience in Analyzing and Addressing Types of Business Debt
Business debt comes in a variety of different forms. Properly analyzing and categorizing between various forms of debt determines the best options afforded and the proper prioritization for any restructuring plan. Business debts include:
Unsecured Credit Card Debt normally obtained personally but used to cover business short falls.
Business Loans. These can be secured or unsecured with unconditional personal guarantees or limited personal guarantees.
Collateralized Loans. These are usually business debts secured by business assets or sometimes cross-collateralized or blanketed on personal assets like homes.
Institutional Debt is distributed by lenders in the lending industry, not vendors or suppliers. Term loans and lines of credit are types of institutional debt.
Tax Debt to state or federal tax authorities is often incurred by small companies in trouble seeking to meet weekly payroll demands.
The proper legal review and legal classification of different types of business debt is critical to formulating a successful course for reorganization. The connections between business and personal signatures or personal assets require the prompt and experienced analysis of a legal expert experienced in all types of business debt.
Proven Legal Options for Struggling Small Businesses
As experienced Hartford, CT small business lawyers, we know that a broad range of debt relief strategies are available for small business owners. We understand that small business debt is often unsecured debt that is exceedingly open to negotiation and settlement, particularly in hard economic times. We also understand that the essential asset of all small businesses is your expertise as the owner and that knowledge can never be taken by a creditor of any kind.
Contact an Experienced Hartford, CT Small Business Attorney and Learn About:
- Negotiated Settlements that resolve pressing business debt problems through direct negotiations and accommodations with creditors
- Court Options including Chapter 7 personal relief, Chapter 13 business relief and Chapter 11 reorganizations.
To learn more about saving your business, call us today at 203-230-2233 or toll free at 1-888-249-3027. We can also be reached by filling out our simple Contact Form for a prompt response from a knowledgeable Hartford small business debt relief attorney.