Distressed Business

On September 1, 2023, Senate Bill 2314 became law and changed the landscape of asset protection for small business owners across the state of Texas.  But this significant change in the law seems to have slipped under the radar.  Owners of single-member LLCs now enjoy the same protection from creditors that owners of multi-member LLCs have had for years.  Seems like cause for celebration, right?  Absolutely.  So why didn’t this announcement make the big splash it deserved? In large part because most business […]

Is it time to call TrustBridge Legal? Outstanding debts can weaken a company by constricting cash flow, making it hard for small businesses to operate efficiently. TrustBridge Legal understands the importance of cash flow, maintaining a reasonable accounts receivable balance, working to eliminate outstanding debts, and resolving breaches of contract. We provide an effective and economical solution to monetizing your past due accounts receivable and maximizing cash flow. Our founder’s background in business as an owner and consultant led to his development of […]

For many business owners, mention of the “B word” conjures up feelings of dread, frustration, and failure. Bankruptcy can be expensive, especially for small businesses, and despite the friendlier reorganization option that Subchapter V provides, the process itself can erode brand equity, stigmatize the company going forward, and damage relationships with vendors and customers. Although bankruptcy doesn’t have to mean the end of the road for your business, it’s safe to say that most of us would prefer to avoid it if possible. […]

Every small business owner knows that cash flow is the key to their company’s survival. Cash comes from customers, so preserving those relationships is vital to a small business. But what do you do when customers stop paying their bills? You may have extended credit and now your customer has gone silent. The invoice is well past due and they won’t respond. Clearly, there is a problem, but how do you go about working through the issues and getting paid? When word of […]