How to Get Control of Your Small Business Debt
In debt? For most, that’s the last place you want your business to be, but it can happen to anyone. When you find your small business in unmanageable debt, it’s essential to not panic too fast and start looking for a solution. Bad management of your debts can lead to...
Examples of Debt Restructuring
By definition, debt is a deferred payment or series of payments that are given to a creditor by a debtor, distinguishing it from immediate purchases. Debt also carries interest, which varies by lender and type of debt. Most Americans are familiar with the process since 80% of Americans have debt to pay. Mortgages are the most common debt that Americans tend to carry, followed by balances on credit cards, car payments, and student loans. This holds true for companies as well as individuals. Businesses are also at risk of defaulting on a loan. Sometimes it gets to the point where a company or person is unable to consistently pay off all their debt on time. This is when debt restructuring comes into play.
The Benefits of Debt Restructuring
When you find the business you created from the ground up is at risk of closing its doors for good because of debt, it can be easy to feel utterly defeated. However, struggling with debt does not have to be the end of your business. Debt restructuring is a great way...
Debt Restructuring vs. Debt Refinancing: What’s the Difference?
When your business is struggling financially, it doesn’t mean the end and you don’t have to close up shop just yet. Luckily, there are options to getting your business back up and running more efficiently, and very likely no longer being crushed by the constant...
Debt Restructuring Tips During a Pandemic
The pandemic is keeping more businesses’ doors closed and putting a halt on cash flow everywhere. This is especially detrimental to the businesses that were already in debt to begin with. Now more than ever, businesses struggling with high-cost debt payments are in...
How to Better Your Business Financing
For businesses to survive and thrive when faced with difficult times, improving their finances is imperative. One day a company can be at the top of its game, only to be hit with changes in the economy or be dealt with a cash flow crunch. When this happens and it’s...
How Does Debt Restructuring Work?
When a company has too much debt, it can be detrimental for both the owner and its employees. If a company is overburdened with debt, unsure when they will be able to pay it off, or even how they'll make their next payment, the best solution to consider is debt...
Welcome!
Welcome to Barry Kornfeld's debt restructuring blog! Check back later for more updates.