Bankruptcy For Businesses

When managing business debt, owners often face a critical choice: filing for bankruptcy or pursuing debt relief. While bankruptcy can provide a solution, it comes with significant credit consequences. Chapter 7 bankruptcy, often reserved for severe cases, has stringent eligibility requirements and can remain on a credit report for up to 10 years. Alternatives like Chapter 11 or Chapter 13 offer repayment plans but still negatively impact future loan rates.

In contrast, business debt relief involves negotiating directly with lenders to restructure or reduce debts without filing for bankruptcy. This approach has a less severe effect on credit, enabling faster recovery. It also offers tailored solutions to address specific financial challenges, making it a more practical option for many small businesses.

At Everyday Debt, we specialize in providing expert business debt relief services for companies facing challenges such as merchant cash advances, business credit card debt, bank loans, and equipment loans. Our goal is to help businesses regain financial stability and achieve long-term success through personalized solutions.