Distressed Capital Resources Founder and President William “Bill” Lobel recently published an article in Law Journal Newsletters. The article, titled “Why Bankruptcy Attorneys Need to Help Their Clients Face Distressed Assets Now,” examines the financial challenges business owners will face as economic support from the government decreases and interest rates rise over the next year. Lobel recommends that bankruptcy attorneys help their clients deal with financing issues now before bankruptcy becomes inevitable.
“In the coming months, legal professionals will be called to help their clients with their distressed finance,” said Lobel. “Many will assume that filing chapter 11 bankruptcy will be the only recourse to address their financial distress, but this method can cause serious financial and reputational damage to a business. In reality, many alternatives to filing chapter 11 would put business owners in a much better position to rebuild and regrow their businesses.”
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