Debt Restructuring

Emphasis on Debt Restructuring before Bankruptcy

At Ag & Business Legal Strategies, our primary goal is to help you restructure your debt without filing bankruptcy. In fact, we’ve been able to negotiate debt restructuring for most of our clients. We’re proud of this fact and our ability to represent both debtors and creditors in resolving complicated financial problems.

With backgrounds in farming, we value and respect the men and women who farm the land. Since we already know agriculture, you can teach us about your specific business so we can focus on your problems.

This background knowledge saves a great deal of time of stress. Instead of first explaining the business of agriculture and then addressing your operation, we can focus on your problems more quickly.

Our experienced legal team helps you settle your debts in a prompt, professional, and dignified manner. At Ag & Business Legal Strategies, we’ll listen to your story, evaluate your individual situation–including the income taxes that may be occasioned if any liquidation is needed–communicate with your creditors, and seek to negotiate a workable solution.

We believe working towards a negotiated settlement can reduce resolution costs and is more satisfactory to you and your creditors. Many times, this negotiation takes place in a mediation, where you and your creditors work together towards a mutually agreeable solution with the assistance of a trained mediator.

At Ag & Business Legal Strategies, we recommend bankruptcy only if no better alternative is available. If you decide bankruptcy is the best solution, we will consider three different types: Chapter 7, Chapter 11, and Chapter 12. Please view our Business Bankruptcy page for more information about each type.

Who are the best candidates for debt restructuring?

The best candidates for debt restructuring are debtors that have one or more of the following attributes. Owners like you who have:

  • Some assets that have not been pledged to creditors;
  • Operations that can be modified so cash flow is positive;
  • Realistic expectations;
  • Willingness to change your operation to adjust to the new realities of today’s business environment;
  • Willingness to sell assets, if necessary, to make the operation cash flow;
  • Willingness to adjust your standard of living to meet the available cash from the operation; and,
  • For farmers: a willingness to take an off-farm job to supplement cash flow and provide health insurance.