Articles Posted in Business & Commercial Bankruptcy

Understanding Small Business Bankruptcy
Liviakis Law Firm Team

Small businesses are the backbone of any economy. They drive innovation, create jobs and add value to the society. However, running a small business can be a challenge, especially when things go wrong. Economic downturns, unpredictable markets, and unexpected expenses can often put a strain on small businesses. Unfortunately, sometimes the situation gets out of…

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Simple Tips for Small Businesses to Reduce Debt
Liviakis Law Firm Team

One of the biggest challenges faced by small business owners is financial management. Keeping up to date with expenses and generating enough revenue can seem like a daunting task, especially during difficult economic times like we see today. One important aspect that small businesses must focus on is debt management. 1) Reduce Expenses: One of…

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Santa Clara County May Buy Bankrupt Hospitals
Liviakis Law Firm Team

Verity Health Systems filed for California Bankruptcy protection in August of 2018. The nonprofit health care system operated four San Francisco Bare Area hospitals with over $500 million in long-term debt and all healthcare facilities needing major updates. Even before their Chapter 11 bankruptcy case, the organization has been looking for buyers for its struggling…

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Business Mistakes Can be Forgiven with Reorganization or Liquidation
Liviakis Law Firm Team

One of the great things about the Sacramento area is that there are rich opportunities for small businesses to thrive and flourish from Carmichael to El Dorado Hills. There are restaurants owned locally on every street. There are offices for every type of professional service, from dentists to certified public accountants. While these small businesses…

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The Benefits of Bankruptcy Can Help to Alleviate Pre-Bankruptcy Concerns
Liviakis Law Firm Team

Filing for bankruptcy due to credit card or other debt may seem intimidating, but the fact of the matter is it might be the smartest financial decision you will ever make. Bankruptcy gives people the opportunity to have a fresh start on their finances and there are many benefits to filing that you should be…

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3 Reasons to Consider Bankruptcy Right Away
Liviakis Law Firm Team

Below represents 3 common reasons you may benefit from filing for bankruptcy sooner rather than later: 1. Stop Foreclosure on Your Home Filing for bankruptcy will stop the foreclosure process the moment your bankruptcy documents are filed. You will be notified by your bank if they plan on foreclosing on your home. A deadline will…

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Detroit Bankruptcy Looks to be Long and Difficult
Liviakis Law Firm Team

Bankruptcy is not just for individuals and businesses. In certain states, municipalities can file for bankruptcy as well. Recently, the city of Detroit filed for bankruptcy, becoming the largest municipal bankruptcy in terms of both population size and debt load. On July 18, 2013, Detroit filed for bankruptcy. Detroit has approximately $18.5 billion dollars in…

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