Chapter 7 Bankruptcy and Your Small Business

Chapter 7 bankruptcy and your small business

If you’re like most small business owners, you opened your doors to provide a service or a product you feel adds value to your customers’ lives. You’ve poured your heart and soul into your work over the years and never considered the day you’d think about closing your doors and cutting your losses. We know. And we understand. We hear from many business owners like you. Filing Chapter 7 Bankruptcy While bankruptcy may be a hard pill to swallow, its benefits are undeniable. Most of the unsecured debts you incurred while operating your business can be discharged. In a matter …

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Protecting yourself when it’s time to throw in the towel

File for Bankruptcy Relief

Your business is struggling. You’re working countless hours and facing unmanageable debt. You’re ready to throw in the towel but you’re concerned about personal damage control. How can you shut down your business without being pulled down with it? Let me assure you, it can be done. While your situation seems bleak on the surface, you have bankruptcy options. You can file a no-asset chapter 7 case; You can file chapter 7 and liquidate non-exempt assets; or You can file chapter 13 and enter into a plan to repay your creditors. 1. Filing a no-asset chapter 7 for a fast …

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