Bankruptcy Alternatives and Debt Workout Lawyer

Boca Raton, Ft. Lauderdale and South Florida

Alternatives to Bankruptcy

Many companies, when facing crushing debt, believe that a Chapter 11 Restructuring is the only option to save their businesses. At times it can be the best or only option; however, there are options that you may be able to take advantage of that better fit your specific situation.

Debt Workout is an out-of-court process that enables a company to restructure its debts with its creditors. In the Chapter 11 process, Florida Bankruptcy Courts have broad discretion to deny the discharge of debts in the reorganization process, and less than 20 percent of companies who enter into Chapter 11 proceedings are successful

Restructurings and Debt Workouts may help you regain liquidity and profitability, and in fact, many creditors are agreeable to out-of-court restructuring as they would rather help their customers return to health as this often ensures a greater percentage of their debts being paid.

Another option available to companies in financial trouble is an Assignment for the Benefit of Creditor (ABC). ABC is an insolvency proceeding governed by state law rather than federal bankruptcy law.

Make no mistake – Chapter 11 may be your best option – but it pays to identify alternatives. An attorney with an understanding of both state and federal bankruptcy laws, hands-on experience in business operations and creditor negotiation experience can help you

Why Sidney Turner

• We are experienced in representing creditors like banks, financial institutions and commercial lenders in creditor’s rights issues. As such, we understand creditors and their mindsets when it comes to working with their clients’ pre- and post-bankruptcy. This gives us a strong advantage when negotiating for a win-win solution that is acceptable to all parties. Remember – just because you may want to settle your debts in a plan that is beneficial to you, this doesn’t mean your creditors do. We are prepared to provide powerful representation to financial institutions, commercial landlords, investors and other parties to help you avoid bankruptcy.
• As a firm with more than 30 years of experience in Bankruptcy and Debt Restructuring, along with strong experience in startup and established businesses, we understand your needs and those of your business. We are able to provide practical guidance to help you protect or save your business.

You’ve worked hard building your business. Seek pragmatic advice to keep your business and protect yourself. Call attorney Sidney Turner at 561.208.6368.

Sidney Turner – Legal Insight, Business Strategy

Sidney Turner LLC offers Chapter 11 Bankruptcy, Business Restructuring, and Debt Workouts to corporations, small businesses and startups across South Florida including the Boca Raton, Coral Springs, Deerfield Beach, Ft. Lauderdale, Margate, Tamarac, Davie, Hollywood, Palm Beach County and Broward County.