Bankruptcy Law Blog

“The Gambler” — Kenny Rogers. Great song. Things were a little tough back then. What does the song really tell us? Why are we talking about it? Well, if you’re watching this — you’ve got some choices to make. Click here to read more and watch this SmallBizReorg episode. www.JackRoseLaw.com Posts in this blog contain discussions of general principles of law and cases. No post, comment or discussion constitutes or should be taken as legal advice. To obtain legal advice you should retain counsel. Legal advice requires a review of the specific facts and circumstances of your case.

Honesty. Wow. What a great name for a video. What a great name for a song. What a word.  Brings up all kinds of interesting issues. Interesting emotions… and in business, an interesting concept, and one that seems to be very difficult for a lot of different reasons.  Billy Joel — 1978. The Album — 52nd Street. One of my favorite albums.  Let’s look at what it means for business. Let’s look at the lyrics. Click here to continue reading or to watch this SmallBizReorg episode.  www.JackRoseLaw.com Posts in this blog contain discussions of general principles of law and cases. No post, comment or discussion constitutes or should be taken as legal advice. To obtain legal advice you should retain counsel. Legal advice requires a review of the specific facts and circumstances of your case.

You know, we like to play around music. Let’s play around with a fun song. Dion — 1961, his first solo track after leaving the Belmonts — Runaround Sue. You probably know the tune — it’s catchy. It’s fun. But what does that have to do with restructuring? Click here to read more and watch this SmallBizReorg episode.  www.JackRoseLaw.com Posts in this blog contain discussions of general principles of law and cases. No post, comment or discussion constitutes or should be taken as legal advice. To obtain legal advice you should retain counsel. Legal advice requires a review of the specific facts and circumstances of your case.

The number one problem is not seeking help soon enough. Okay, now that we’ve gotten over that. The other number one problem is cashflow. If you don’t have money on hand to pay your employees, to buy merchandise, to buy goods. If you’re a restaurant… to buy the product you need to serve your customers that fresh food they want, you’re out of business. Cashflow is everything. You need cash coming in the door in order to keep the business open. Use this link to read more or to watch this SmallBizReorg episode.  www.JackRoseLaw.com Posts in this blog contain discussions of general principles of law and cases. No post, comment or discussion constitutes or should be taken as legal advice. To obtain legal advice you should retain counsel. Legal advice requires a review of the specific facts and circumstances of your case.

Let’s talk about personal guaranties.  They come in all shapes and sizes.  We are not giving legal advice. To get that, you need to go to your own lawyer.  Personal guaranties can be a couple of lines. They can be an entire agreement. You need to have your lawyer review and evaluate the documents, your personal situation and the situation of your company. Use this link to read more and watch this SmallBizReorg episode.  www.JackRoseLaw.com Posts in this blog contain discussions of general principles of law and cases. No post, comment or discussion constitutes or should be taken as legal advice. To obtain legal advice you should retain counsel. Legal advice requires a review of the specific facts and circumstances of your case.

One of the big questions…  When to file bankruptcy?   Small Business Reorganization Act. It was enacted 2019 – Sub V. 7.5 million dollars, current debt limit.  Your lawyer will tell you what type of debt qualifies. Or Chapter 11.  Maybe — Chapter 7.   When do you file for bankruptcy? When the Grim Reaper comes calling? Too late! Click here to read more or watch this SmallBizReorg episode.  www.JackRoseLaw.com Posts in this blog contain discussions of general principles of law and cases. No post, comment or discussion constitutes or should be taken as legal advice. To obtain legal advice you should retain counsel. Legal advice requires a review of the specific facts and circumstances of your case.