When Business Goes Bad

Sometimes, business goes bad. It could be for any reason: Health, a lawsuit against the business, a rogue employee stealing from you, a slow period, equipment breakdown or even a former employee stealing customers. Whatever the reason, you may need an attorney to help rectify the problem. Regardless of the issue, the sooner it’s taken care of, the sooner you are able to profit.

Financial Issues

Many issues could cause your business to lose money. If those issues are temporary, you could recover if you had a little help. If you are a small business and do most of the work, health issues could close the business for a short period or could slow things down. If it looks like you might not be able to recover on your own, you might consider filing reorganization bankruptcy. You will be able to keep the business running while keeping creditors off your back.

Equipment breakdown or an unusually slow period could cause you to get far enough behind so that it looks like you’ll never catch up. If the arrearages on your debt are high enough, this is another reason to consider bankruptcy.

Not only does bankruptcy keep creditors off your back because of the automatic stay, but it gives you a chance to pay some on the arrearages, pay the current payments and get back on track.

Issues with Customers

When you deal with customers, you must expect to have issues with some. A person might not be happy with your work and may decide to request their money back for services. If you refuse, the customer may try to sue you. In this case, you’ll need an attorney to represent you. This could happen in any line of work from auto repair to the healthcare industry.

A customer could also get hurt at your establishment. He or she could slip and fall or be hurt by equipment. You could be accused of medical malpractice if you are in the healthcare industry. In many cases, your business insurance will cover the incident if you are found to be at fault. However, always keep in mind that the insurance company is looking out for their own interests, and that is to settle for the least amount of money. If you have an issue with a customer and insurance companies are involved, you should always retain your own attorney to ensure that your rights are not violated.

Issues with Employees

Employees could file a lawsuit against you or your business for many reasons. An employee could get hurt on the job or could file a discrimination or wages lawsuit. If this happens, you should retain an employment attorney as soon as you are served with the lawsuit. Wage issues usually go through the Department of Labor. Constitutional lawsuits such as race discrimination usually go through federal court.

In some cases, you may need to sue an employee. You may find that an employee is stealing from you or that a former employee is taking your customers or is violating a non-disclosure agreement. If you find that this is happening, you need to retain an employment attorney as soon as possible, since these actions could severely damage your business.

Tax and Other Permit Issues

Florida requires you to pay certain business taxes, as does the county, and sometimes, the city you do business in. If you don’t pay your taxes or don’t pay to renew your licenses and permits, the issuing agency could freeze your business bank account or shut your business down. If it’s a matter of taxes, such as sales tax, contact an employment law attorney to negotiate a settlement for you before your accounts are frozen. Once your accounts are frozen, you won’t be able to operate. However, if you are able to come to an agreement with the taxing agency, you will be able to continue with business.

Contact Yardley Law

For any issues with your business, contact Yardley Law for a consultation and to learn more about your rights as a business owner.



Related Posts