Small Business Bankruptcy
Dealing with debt can be difficult for anyone, but especially if your an owner of a struggling small business. When you and your family’s livelihood is threatened by insurmountable business debt, it may be time to consider filing bankruptcy.
Many of my clients have personally guaranteed debt for a business they own. If that small business does not make the payments on the debt, then you become the responsible party. What used to be business debt becomes your debt. Ouch!
Sometimes, as an Orlando bankruptcy attorney, the best advice I can give my clients is to file personal bankruptcy, like Chapter 7, and get personal protection from the business debt liability. Once you’ve protected yourself from business creditors, you may find it’s not necessary to file bankruptcy for your small business.
Bankruptcy and small businesses can be tricky, no doubt about it. If you are ready to discover what options are available to you in this area, please Contact me to get started. 407-898-8225