Debt Relief for Richmond Small Businesses

Get Assistance from Our Bankruptcy Attorney

Balancing your debt correctly as a small business can mean the difference between surviving and thriving. Reports from the Small Business Association conclude that nearly fifty percent of all small businesses fail due to a lack of capital, bad credit arrangements, and having too much debt.

When a Small Business Takes on Too Much Debt

When a company takes out a loan, and subsequently earns a return on the borrowed funds, it is good for the both the creditor and the company. However, even if the borrowed money does not result in increased income, nevertheless the business still has to make the loan payments, which can put some business owners in a bind. When your business’ loan payments become too much to bear, legal assistance can help you right the ship. Call to speak with our Richmond debt relief attorney today to see what kinds of options you and your business have.

• Should they find themselves in need of debt relief, a small business has the following options available to them:
• Make Arrangements with Your Creditors - Restructuring loan details with your creditors may not always be an option, however if you discuss the situation with your creditors, they may extend your due date or provide you with additional repayment options that could allow you to continue doing business.
• Get a Small Business Debt Consolidation Loan - Consolidation loans can be valuable for any small business that is overwhelmed by too much debt. If your business qualifies for a small business debt consolidation loan you may be able to reduce your interest rates and roll all of your monthly debt servicing into one more manageable monthly payment.
• Bankruptcy - Filing bankruptcy for a business is complicated. You should contact our knowledgeable Richmond bankruptcy attorney if you are considering taking this step.

Experienced Bankruptcy Attorney

The Richmond debt relief and bankruptcy attorney at Bruce W. White, P.C., has years of experience helping small business owners to turn their prospects around.

Contact us today for a free, no-obligation consultation.