The good news is these problems can often be overcome by having the company viewed and then restructured after assessing what in the first instance has caused the problems. By having a restructure or an assessment done of your company when it is in the early stages of duress may save 10’s of thousands of dollars and large periods of emotional duress.
Although we believe it is bad practice to borrow more money to get out of debt, there are as in all cases some exceptions to the rule. Often by borrowing an amount of money now, a proposal can be put forward to creditors, whereby they will accept a lump sum rather than a time repayment period, but the lump sum being substantially less than the total amount of debt owed to them. Alternately, sometimes particularly when there is work in progress or the debtor is comfortable it will come in, a short term fix is of immense advantage.