Ep 3 Part 1 Alternatives to Bankruptcy (Guest Nick Jalowski)

Caution: Be sure to seek professional advice before you decide to file for bankruptcy. Consider and feel free to reach out to Neil, Steve, or any of their guests before you take this major step.**

Welcome to Corporate Bankruptcy A to Z, a show designed to educate you on the ins and outs and the dos and don'ts of corporate bankruptcy. On this show, you will hear experts from every step of the bankruptcy process answer the questions that you will need to know, from the simple to the complex.

 Email your questions for the experts to [e-mail] and to [e-mail]  Their door is always open and they will respond.

Highlights:
8:14 – Experiences with lenders
9:17 – What is a forbearance agreement
12:42 – Alternatives to bankruptcy
13:42– Should the company speak with its creditors when planning a bankruptcy?
15:27 – Out of court settlements 
17:27 - Are lenders willing to work with businesses when it comes to paying back debt?
19:19 – Gaining credibility
22:10 – Who should quarterback the restructuring plan
24:10 – Why creditors should go along with the plan
26:42 – The chances of a successful bankruptcy
28:44 – Professionals needed for an alternative program
29:36 – Alternative plan versus a bankruptcy
31:22 – Final thoughts
32:17 – Case Study

Guest Info:

Nick Jalowski is the founder and has been the managing director of Cambridge Financial Services LLC since its inception. He is a Certified Turnaround Professional (CTP) and Certified Management Consultant (CMC). Formerly a corporate banker with Bank of New York in New York City, and Fidelity Union Bank in New Jersey.

  Call him at 732-512-9200 x15 or email him [e-mail] if you have any questions.

  Host Info:

 Neil Goldstein (AKA the Workout Guy) is the founder of Elementary Business inc. a specialized consulting firm for distressed businesses and entities in transition.  With many successes in his portfolio, Mr. Goldstein focuses on the needs of the owner to achieve results in profitability, sale of the company or finding a partner for growth.

 Call 940-808-9451 or Email [e-mail] or visit ElementaryBusiness.com.

 Stephen B. Ravin is a highly seasoned insolvency and bankruptcy attorney, with more than 40 years experience. He has served as a trustee and has represented trustees, individual and corporate debtors, creditors, creditors’ committees, assignees for the benefit of creditors and receivers.

 Call 973-286-6714. Or email him [e-mail] You can also visit his firm's website here.

Be sure to come back for our next episode where co-host, Stephen Ravin, talks Neil through the other legal options to filing bankruptcy. This episode is essential for anyone looking for an option that is less expensive and less difficult than a bankruptcy filing. Steve will cover an assignment for the benefit of creditors and much more. 

 

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