Starting and owning your own business is what the American dream is all about. Unfortunately, in today’s world, no matter how much love, time, energy, or money you pour into your business, success is not guaranteed. If you find your small business is not thriving, the most responsible, realistic, and honest approach may be to consider filing bankruptcy for your small business.
There are many tools to consider when trying to fix your ailing business.
Chapter 11 offers a legal process by which a small business can continue to operate under the bankruptcy court’s supervision while in the process of reorganizing its business debts.
Chapter 7 offers a controlled method in which to “wind down” and liquidate the business assets so as to satisfy the companies obligations to the best of its ability.
If you find your business failing during these difficult times, call our office today for an absolutely free consultation. Let us help to advise you on the best course of action for your business.