Orange County Business Debt Restructuring Lawyers
Business owners across the Hudson Valley know that when times get tough and debt starts to feel overwhelming, it can be difficult to decide where to turn. The Law Offices of Michael D. Pinsky, P.C. can help you determine whether your business may benefit from debt restructuring or if it may be better to file for bankruptcy. Either way, we can help. Our firm is committed to making sure you truly understand all of your paths forward to make the choice that is best for your business. Contact the Orange County business debt restructuring lawyers at the Law Offices of Michael D. Pinsky, P.C. today to set up a consultation with our skilled legal team.
What is Business Debt Restructuring?
Business debt restructuring allows a business owner to privately renegotiate some of the debt associated with the operation to make it easier to pay back delinquent bills. As the business owner, you may be able to come to an agreement with your creditors that makes the terms of your repayment easier to manage. Some of the goals that your legal team may try to meet during the restructuring process include reducing the interest rates on the loans or extending the repayment period. These efforts can make it easier to repay some of your debts and reduce the pressure from your creditors.
Can business debt restructuring help me avoid bankruptcy?
Many times, working with creditors to restructure your business-related debt can help a business owner to avoid filing for bankruptcy. This process generally provides the business owner with a bit of breathing room to collect oneself and repay debt. However, if the business owner is still not able to make payments on debt after the restructuring process, it may be a good idea to speak with an experienced Orange County attorney to determine if bankruptcy is the next step.
Do I need an attorney for debt restructuring?
It is essential that you have strong legal representation during the business debt restructuring process. Our firm knows how creditors work and that they may try to exert their control, leaving you in an unfavorable position. The Law Offices of Michael D. Pinsky, P.C. can help you draft an effective hardship letter that explains to creditors why you need to restructure your debt and includes financial statements that can show the seriousness of your situation. With the help of our knowledgeable legal team, you can feel confident knowing that your best interests will be protected during the entire restructuring process.
Contact a Newburgh Business Debt Restructuring Lawyer
For decades, the Law Offices of Michael D. Pinsky, P.C. has proudly represented business owners across the Hudson Valley who need assistance in the business debt restructuring process. Our firm recognizes how important your business is to you and to your community. We are here to help make your debt feel less overwhelming so you can focus on what really matters. To learn more about restructuring your debt in New York State, contact the Law Offices of Michael D. Pinsky, P.C. today to schedule a consultation with an experienced Orange County business debt restructuring lawyer.