Business Survival Mode – Legal Battles during a Financial Crisis

When I started this law firm in 2008, it seemed as though the financial world was falling apart.  Foreclosures, evictions, bankruptcies and credit card suits were inundating the courts.

Back then, time and time again I saw clients who were overwhelmed by financial stress, most of them believing that their world would come crashing from one day to the next.

What I showed my clients back then was that financial ruin did not need to happen overnight–nor is it inevitable.  I showed my clients that not every creditor is inflexible; that not every asset can be immediately repossessed; that not every lender files a lawsuit at the same time; and that not every creditor lawsuit is a quick or automatic win for the creditor.

With the COVID-19 crisis, it is obvious that a tsunami of similar claims is about to arrive.  For many, it has already arrived.   Too many business owners right now are unable to generate any income whatsoever.  They have been obligated to shut their doors to the public, forced to lay off workers, and may soon be forced to forego rent payment as April 1 approaches.

In many ways, this crisis is uncharted territory.  But in many ways, it’s not.  During the 2008 financial crisis and for years thereafter, we helped many business owners and individuals navigate through the consequences of financial hardship: foreclosures, evictions, creditor lawsuits, business disputes, bankruptcies and employment claims to name a few.  Since then, we have represented parties in these types of claims.

As the COVID-19 crisis materializes into creditor claims, you can either let the creditors crush you, or fight for a softer landing.  A conversation with an experienced attorney can give you some clarity as to options that may be available to you during these difficult times.  If you wish to discuss your circumstances and options with me or another attorney at our firm, don’t hesitate to reach out.