CHAPTER 11 BANKRUPTCY
SMALL BUSINESS BANKRUPTCY CHAPTER 11SMALL BUSINESS BANKRUPTCY HELP
Are you a small business owner considering bankruptcy? If so, you are not alone; millions of American business owners are facing the same financial hardship. It can be difficult to look ahead during this uncertain time, but speaking to a Chapter 11 bankruptcy attorney will help you put your mind at ease and make a manageable plan for your business’ financial future. The compassionate, professional staff at the Szabo Law Group can advise you on a workable plan and your rights under the bankruptcy code – and give you peace of mind.
The very idea of filing for bankruptcy as a business owner can be frightening. What will happen to your company? Will you have to close your doors? What about your employees – will you have to let them go? These questions can all be answered by our knowledgeable legal team as we guide you through the process of resolving your debts through a sensible, no-nonsense restructuring plan.
That’s perhaps the biggest benefit of opting for Chapter 11 business bankruptcy over a Chapter 7. If you are hoping to keep your company’s doors open in any capacity, restructuring your debt into a more manageable plan will open up that option. While your debt will not be wiped out the way it would be with Chapter 7, your business also will not typically be liquidated as it would be in a Chapter 7 bankruptcy. For many business owners, that is exactly why they choose Chapter 11.
FREQUENTLY ASKED QUESTIONS
WHEN IS A SMALL BUSINESS BANKRUPTCY THE RIGHT CHOICE?
Getting behind on payments can be extremely detrimental to a business. This is especially true of small businesses, which may not have the capital to catch up once they get behind. Bankruptcy can keep your doors open while you restructure and relieve your debt in a manageable way.
WHY CHOOSE A SMALL BUSINESS BANKRUPTCY CHAPTER 11?
A Chapter 11 bankruptcy is often a great choice for small businesses. There are even specific subchapters dedicated to smaller companies that are struggling with debt. If your company is small or even single-person, speak to a lawyer about the advantages of a Chapter 11 bankruptcy for managing your debt and obtaining the relief needed to get back on your feet.
DO I REALLY NEED THE HELP OF A BANKRUPTCY ATTORNEY?
While it is technically perfectly legal to pursue bankruptcy without the assistance of a lawyer, it is not advisable. Attorneys understand every aspect of the bankruptcy process. Do not go into it alone when you don’t have to. Speak to a professional to get professional results!