Business Bankruptcy
What is business bankruptcy?
Business bankruptcy could be an option for small businesses affected by the economic slowdown. A lot of small and mid-sized businesses in the San Joaquin Valley and Central Valley are struggling financially. Not only have businesses experienced a downturn in customer orders, but many small business owners are also finding it difficult or impossible to obtain the loans they need. If your small business, S-corp or sole proprietorship is facing financial hardship, bankruptcy may be an option for you. Our bankruptcy law firm can help.
For a free 1/2 hour consultation with our expert bankruptcy lawyer Contact Christie Lee Law Office today about business bankruptcy or give us a phone call 209-910-5291
Which type of business bankruptcy is an option for my business?
There are several types of business bankruptcy — Chapter 7, Chapter 11, Chapter 12 (farm) and Chapter 13. At the Law Office of Christie Lee, we primarily help business owners with Chapter 7 and Chapter 13 bankruptcy. In our experience, Chapter 11 bankruptcy is both expensive and unnecessarily complicated, and many small and mid-sized businesses will qualify under Chapter 7 or Chapter 13.
Learn more about federal bankruptcy law. Our business bankruptcy attorneys will help you file business bankruptcy and repair your credit record.
Call us to know more about business bankruptcy.
What is a Chapter 7 business bankruptcy?
Chapter 7 business bankruptcy is a business liquidation bankruptcy for individual business owners who are going out of business. In some instances, the bankruptcy court will agree to Chapter 7 for an ongoing business if it is the owner’s sole livelihood and there simply is not enough income to do debt repayment. Learn more about Chapter 7.
What is a Chapter 13 business bankruptcy?
Chapter 13 is a debt reorganization bankruptcy. If you have an ongoing business (a partnership or S-corporation) that you wish to keep, Chapter 13 will help you reduce your overall debt load and get your finances back on track. A debt reorganization plan for a business is the same as for an individual:
- Fees and fines from late payments can be removed
- Your overall debt load can be reduced
- You have three to five years to pay off debts
- Any debt remaining at the end of your plan (if you followed the plan successfully) can be discharged
Learn more about Chapter 13.
Want to find out more about business bankruptcy?
We give 1/2 hour free consultations – flexible scheduling
If you would like a free 1/2 hour consultation with our expert bankruptcy lawyer Contact Christie Lee Law Office today or give us a phone call 209-910-5291. Our office is conveniently located and open, 8:00am to 6:00pm. If you would like a weekend appointment, simply call and set one up. We are flexible with our schedule and most importantly want to get your problems resolved.
We have years of experience helping people file for bankruptcy under the US Federal Bankruptcy Law.
We primarily service clients in the Northern California region with our office in Stanislaus County. Many of our happy clients include residents from