Insolvency and Liquidation – The Advantages of Bankruptcy Alternatives

Navigating insolvency and liquidation can be difficult. When a business is going “out of business”, it’s common that its owners have a range of types of debts to resolve, and an equally long list of known and unknown creditors. Negotiating all of these debts, with different creditors, while closing your business, all at the same [...]

Closing Business Debts – Without Bankruptcy or Assignment

Providing Notice That You’re Going Out of Business Closing a business with debts can be daunting. If you’ve decided that you want to, or need to, close your business, giving notice is a major step in the process. While it’s hard to break the news, it’s even harder to lose your business assets in the [...]

Bankruptcy Alternatives – The Assignment for the Benefit of Creditors

Most people understand the concept of “bankruptcy,” but aren’t necessarily familiar with bankruptcy alternatives - especially with the concept of an assignment for the benefit of creditors (“ABC”). An ABC is a well-established New Jersey state law alternative to federal bankruptcy. This article will give you an understanding of why ABCs, as far as bankruptcy [...]

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