Business Debt

At the Law Office of Yvonne Michaud Novak, we know what can happen to small and medium-sized business once they become overrun with debt. We work hard to eliminate the debts of our business clients through negotiated settlement so they can focus their attention on making their company a success. With years of experience helping debtors restructure or eliminate their unsecured debt, we have developed an understanding of the debt settlement industry.

We also understand advanced accounting concepts, and have the ability to decipher your cash flow statement, profit and loss statement, and loan forbearance agreement for you. We will investigate all of your financial obligations, determine your actual liability, and give you an honest assessment of whether or not your business can be saved.

Are You Personally Liable for Your Business Debts?

You probably are liable. Many institutions will not lend to small or medium-sized businesses without a personal guaranty from the owner. This negates any liability protection that you thought you might have had when you incorporated or formed a limited liability company. Therefore, if your business is consumed by debt, so are you. At the Law Office of Yvonne Michaud Novak, we will determine the best way to minimize the loss of your personal assets, while still trying to save your company. Contact us at 218-720-2888 to schedule your free initial consultation. We offer after-hour appointments upon request. We are conveniently located in Duluth, Minnesota, and serve clients throughout Minnesota and Wisconsin.