Pendergraft & Simon, L.L.P. Legal Blog
Preparing yourself for a personal bankruptcy in Texas
Making the difficult decision to file a chapter 7 or chapter 13 bankruptcy is the first of many steps you will take in overcoming your debt. The things you do next can make your journey through the bankruptcy process easier. We hope you already understand the many benefits legal guidance offers when seeking a chapter 7 or…
There are ways to appeal Texas property taxes
As a Texas business owner, you might feel the local appraisal board is trying to charge you too much tax on your commercial property — and you could be right. Thankfully the law provides you with a straightforward way to appeal. Property values change regularly This year, many properties will have gone down in price….
A Chapter 11 bankruptcy could save your business
A Chapter 11 bankruptcy can be complex. You may want to keep your business open and to retain as many of your employees as possible, but that does require finding ways to reduce your debts and renegotiate the way you do business. Your business comes first, and if you want to keep it open, restructuring…
Selling a business to avoid bankruptcy
If your company is struggling to make ends meet, you may be considering bankruptcy. It feels like all you can do to keep up with payroll, much less pay off what you owe. However, without going deeper into debt, you can’t get the materials you need to keep the business going. Eventually, you settle on…
Filing for bankruptcy could save your business
If your business has been struggling to stay solvent and you’ve seen a decline in business, then it may be time to look at restructuring your debts. A Chapter 11 bankruptcy can help you get your finances back in order and renegotiate debts and contracts to help your business be more profitable. A Chapter 11 bankruptcy is…
Addressing redundancy can be dangerous during a merger
Merging two existing businesses or two offices or departments of an existing company can make your operations more efficient and reduce your business’s expenses. However, a big part of reducing those costs usually stems from eliminating redundant positions and either changing people’s work responsibilities or eliminating the excess positions. Needing to eliminate a number of…
When your business isn’t thriving, is it better to sell or file for bankruptcy?
If you don’t think that it is financially viable to keep running your business, it’s important to consider all of your options. The first one you think of may be bankruptcy, such as using Chapter 11 or Chapter 13 to restructure or reorganize your finances to keep the business afloat. It is possible, in many…
Reasons to choose Chapter 7 bankruptcy
If your finances are a wreck and you qualify for Chapter 7 bankruptcy, it never hurts to learn more about the process and how it will benefit you. As you become familiar with the benefits, you may soon realize that a Chapter 7 bankruptcy is the best way to reset your finances with an eye…
Business bankruptcy doesn’t mean closing
Many people equate business bankruptcy with going out of business. They assume that a company that has to declare bankruptcy has simply run out of money, can’t pay its debts and is going to close its doors. This is very far from the truth. Though it can grow very complicated, Chapter 11 bankruptcy allows for…
What can you seek as part of a breach of contract lawsuit?
Contracts sometimes get described as the lifeblood of businesses, in part because contracts manage everything from the relationship between a company and its employees to the transactions that occur between individual businesses. You uphold your side of a contract, and you have the reasonable expectation that other parties will do the same. Unfortunately, it’s possible…