When your business is facing the challenge of trying to grow while struggling with mounting debts, a business workout can get you the relief you need. Business workouts attorney Joseph B. Sobel can help you explore your options, pay off your debts and get your business back on track.

How business workouts can help you

A business workout uses your current management to come up with a better business plan. You may not be generating enough cash flow to run your business efficiently, but we can help you get on track, often within several months. With some restructuring of your finances, cutting costs here and there, we can fine-tune things to help you get back on your feet. In addition to increased cash flow, you will demonstrate to your creditors that you are serious about paying off your debt and will finally get some breathing space.
For many businesses and professionals, a lack of liquidity or inability to grow due to creditor demands keeps them from successfully resolving their financial problems. As banks and other creditors begin to call loans due, clients begin to have difficulty juggling between them. As these businesses’ and professionals’ cash dries up, so does their ability to keep their creditors content. Once liquidity becomes an issue, clients do not have the time or know-how to work with creditors to restructure the debt into a more manageable plan and run their businesses at the same time.

Our firm begins by analyzing a client’s financial situation from the top down. We begin by reviewing the client’s financial information to determine their current financial position. We then analyze the client’s debt from all aspects, including:  a) how much debt they owe; b) the type of debt and its aggregate amount; c) the urgency associated with particular debt; and d) any inchoate (hidden) problems that the client might not realize. After conducting this analysis, we then begin negotiating with the client’s creditors to restructure their debt so that they can more effectively run their business while meeting financial obligations.

In some cases, the problems with a business may be just as much internal to the business as external to it. In these cases, we guide our client through a complete restructuring of their business from the top down. Often, this allows the client to accomplish the same goals as would be accomplished through a debt restructuring or a Chapter 11 bankruptcy, but with the added benefit of having a business rebuilt from the inside out to avoid the recurrence of many problems in the future.

If you’re ready to speak with an experienced attorney, contact us today.

Solutions tailored to your needs

We understand that each workout presents its own unique challenges and opportunities. That’s why we focus on providing solutions that work for you and your business. We will work with you one-on-one to resolve workout or restructuring issues. We use our industry knowledge and specific experience in real estate, commercial transactions, banking and finance, UCC issues, leasing, foreclosures business law, or bankruptcy and other specialized practices to help you resolve your situation.

Contact a knowledgeable Harrisburg business workouts law firm

Contact Joseph B. Sobel online or call us at 717-234-2200 to schedule an appointment.