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LLCs and corporations are designed to shield owners from corporate debts, but commercial lenders, landlords, and vendors in Florida routinely require business owners to sign a personal guarantee before extending credit. When a business defaults, that guarantee brings...
Business owners facing debt often prefer paying loyal vendors or local partners before filing for relief. While these payments seem like good management, the U.S. Bankruptcy Code may view them as unfair gains over other creditors. Knowing how these transfers affect a...
Sometimes the hardest part of dealing with debt is admitting that the plan is no longer working. A person may have made every payment on time for years, cut back on spending and used every spare dollar toward what they owe. Yet the balances barely move. At some point,...
Before signing a lease or purchasing a commercial property in Jacksonville, understanding how zoning and land use rules apply to your intended business can prevent significant delays and costs. Zoning rules determine what businesses can operate in an area and impose...
If financial pressure has placed your company at risk, you may worry that a bankruptcy filing means you must hand over control. In many Chapter 11 cases, that is not true. You can often stay in charge while you work to reorganize debt and stabilize operations. How you...
Couples don’t have to share everything, including business debt. Fortunately, if you are a sole proprietor residing in Florida, your business debts are legally considered personal debts and may not affect your spouse. However, there are several factors in play here...
Declining sales with no sign of improvement can put your business at risk. While every business faces financial challenges, there are times when increasing debt and constant pressure from creditors become overwhelming, leading to sleepless nights and difficult...
Falling behind on lease payments can threaten more than your location. If equipment, inventory or furniture sits inside the space, you might worry whether your landlord can claim those assets for unpaid rent. In Florida, landlords may have a lien created by state law...
It is quite hard to imagine that a social media account could be at risk of confiscation during business bankruptcy. Unfortunately, it may be possible in Florida and many other states in the country. If your social media account is tied to the business, your company...
As a business owner, you understand that running a business comes with financial risks. If your company is struggling with debt, you may be worrying about more than just keeping the doors open—you may be concerned that your personal savings, home or other assets are...