Bankruptcy Help for Small Business Owners

When a small business owner faces bankruptcy, it can be a tough road ahead. Not only are they dealing with the financial stress of bankruptcy, but also the emotional stress of knowing their business is in trouble. However, there is help available for small business owners who are facing bankruptcy.

Understanding Small Business Bankruptcy Help

When a small business is unable to meet its financial obligations, bankruptcy may be the best option. However, before taking this step, it is important to understand the different types of bankruptcy and how they can help your business.

Chapter 7 bankruptcy is often referred to as liquidation bankruptcy because it allows businesses to quickly pay off their debts and start fresh. This type of bankruptcy is typically best for businesses that do not have the ability to repay their debts. Chapter 11 bankruptcy, on the other hand, is designed for businesses that want to stay in operation but need time to reorganize their finances. This type of bankruptcy allows businesses to develop a repayment plan and gives them protection from creditors during this process. Finally, chapter 13 bankruptcy is similar to chapter 11 but is only available to businesses with a regular income. If you are considering bankruptcy for your small business, it is important to speak with an attorney who can help you understand which type of bankruptcy is right for your business.

Many small business bankruptcy lawyers offer free consultations to help business owners understand their options and decide whether bankruptcy is the right course of action for their business. With the help of these professionals, small business owners can get through the tough times and emerge from bankruptcy with a fresh start.

Why Choose Freedom Law Firm?

Our goal is to help you get out of debt and improve your financial situation. We’ve helped thousands of people just like you consolidate their debts and get back on track with their finances.

To find out more about bankruptcy help for small business owners, call us at 702-880-5554 or fill out our online form to schedule a free consultation.

Schedule Your Free Consultation

    Free Consultation