Worcester Small Business Bankruptcy Lawyer
Is your small business heavily in debt?
If you are a small business owner that is in financial trouble, contact a Worcester bankruptcy attorney to discuss your situation and options. Your debt remedy alternatives will be based on how your company is legally structured, such as a corporation, partnership or sole proprietorship. In a corporation, partnership or limited liability corporation, the business itself can file for
bankruptcy under Chapter 7 or Chapter 11. In a soleproprietorship, the business owner will need to personally petition the court for bankruptcy under
Chapter 7, Chapter 11 or
Chapter 13. Law Office of Robert W. Kovacs, JR. can review your business financials and explain the bankruptcy laws that pertain to your particular situation. We are a skilled bankruptcy firm that has helped many small business owners resolve their debt problems.
Most small business owners are able to file personal or corporate bankruptcy and keep all their assets while continuing to run their business. Small business owners depend on their business income to support themselves and their family; however, overwhelming debt may be jeopardizing the business. Relieving the business and yourself of debt will give you, your business and your family the ability to thrive in a competitive environment.
The Law Office of Robert W. Kovacs, Jr. has helped many small businesses through trying times, including contractors, resultants, café, bars, cleaning companies, accountants, medical doctors and other attorneys.
Small Business Bankruptcy Attorney in Worcester
Filing for bankruptcy may be the right decision if you are a small business owner that is heavily in debt. A Chapter 7 bankruptcy will allow you to liquidate your assets to pay off creditors. Any remaining debts will be discharged. In a Chapter 11 bankruptcy, you will have the option of liquidating or restructuring. If your business is a sole proprietorship and you file under Chapter 13, your company will be reorganized so that creditors can be paid the money they are owed. A small business bankruptcy provides protection from creditors, and will immediately halt:
- Harassing creditor phone calls and letters
Some business bankruptcies that begin in a Chapter 11 or Chapter 13 are later converted to a Chapter 7. A bankruptcy case can also be dismissed when protection is no longer needed. Our firm will help you make the best decision possible regarding your business. We have a comprehensive understanding of bankruptcy laws, and will ensure your rights and interests are safeguarded. If you are comparing bankruptcy attorneys in Worcester, MA, contact our office today for a free case evaluation and find out why we are the right choice for you!
Contact a Worcester small business bankruptcy lawyer
for legal counsel if you are the owner of a small business that is unable to meet its financial obligations.