struggling with insolvency? attorneys at meyers law group specialize in out-of-court workouts. although commonly used interchangeably, the term insolvency is not synonymous with the term bankruptcy. bankruptcy implies a court process often necessary in order to stop collection actions, foreclosures and other invasive creditor remedies in order to restructure debt, it is often possible to accomplish that restructuring on an informal basis, in what is known as “out-of-court workouts.”