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In the Media

What they're saying

Featured
Featured · October 28, 2026 · 8 min read

Should I buy a distressed business in bankruptcy or outside of it?

The ingredients are all there for a rise in distressed mergers and acquisitions. Inflation, rising rates, volatile stock markets, geopolitical issues, supply-chain disruptions. Headwinds such as these should result in more companies selling or seeking a…

DE
Delancey Editorial
Delancey Team
Read article

WHAT

October 28, 2026
What should I expect as a creditor when a customer makes an assignment for the benefit of creditors?
A legal procedure called an “assignment for the benefit of creditors” or “ABC” works like this. A hopelessly indebted customer, the assignor, transfers assets…
DE Delancey Editorial

HOW

October 28, 2026
How do I shut down my startup and handle its debts, creditors, and investors?
Your startup doesn’t have a stand-up exit strategy, and you assumed it would be simple to shut down if it got to that point.…
DE Delancey Editorial

WILL

October 28, 2026
Will restructuring or modifying my business debt create taxable cancellation of debt income?
It can. The IRS says most cancelled debt is taxable income. In tax terms, the borrower reports cancellation of debt income unless an exclusion…
DE Delancey Editorial

CAN

October 28, 2026
Can I be personally liable if my business doesn’t remit collected sales tax?
Firms and people who get sales and use tax wrong in ways that do harm can face civil or even criminal punishments. Too few…
DE Delancey Editorial

CAN

October 28, 2026
Can I be held personally liable as a responsible person for unpaid payroll taxes?
A responsible person who willfully fails to collect or pay over trust fund taxes may be personally liable for the unpaid trust fund amount.…
DE Delancey Editorial

HOW

October 28, 2026
How can a voluntary disclosure agreement reduce my business’s unpaid state taxes and penalties?
A voluntary disclosure agreement (VDA) is a written contract between a business with back taxes and a state revenue agency. The goal of a…
DE Delancey Editorial

CAN

October 28, 2026
Can my real estate business avoid tax on cancelled debt using the qualified real property exception?
A creditor’s forgiveness of business debt may ease financial pressure, but it can also create taxable income. This cancellation of debt income, or CODI,…
DE Delancey Editorial

DOES

October 28, 2026
Does an insolvent corporation have cancellation of debt income when a shareholder forgives its debt?
It’s common for a corporation to get loans from its owners that it eventually doesn’t pay back. When shareholders of a corporation forgive that…
DE Delancey Editorial

DOES

October 28, 2026
Does my business owe tax on debt canceled in a workout or bankruptcy?
With so much economic uncertainty these days, you may be worried about the tax consequences of working out debt problems and dealing with cancellation…
DE Delancey Editorial
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Insights

Top questions

What is business debt settlement?
A negotiation process where a business resolves its commercial debts (MCAs, SBA loans, equipment finance, lines of credit) for less than the full amount owed, typically by demonstrating financial hardship. Distinct from bankruptcy, settlement is a private contractual agreement.
Is it the same as Chapter 11?
No. Chapter 11 is a court-supervised reorganization. Settlement is a private negotiation, faster, less public, and usually cheaper. We sometimes refer clients to Chapter 11 when the math favors it.
Will it ruin my credit?
Defaulted accounts are reported regardless of whether they are settled or not. Settlement actually shortens the period of damage by closing the account.
How long does it take?
Every engagement is different. Timelines depend on the number of positions, whether litigation is filed, and how each creditor responds. We do not publish averages because publishing one would set an expectation we cannot honor for every business. We give you a written, engagement-specific timeline at the end of the first call.
What does it cost?
Our fee is a percentage of your total enrolled debt. We tell you exactly what we'll charge in writing before any work starts.
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