Business Bankruptcy Lawyer
A business bankruptcy lawyer at Shipkevich PLLC can help you liquidate or restructure your business debt through filing bankruptcy.
Which Business Bankruptcy Is Right For You?
During your free consultation with a bankruptcy lawyer at ZocLaw.com, you will be advised as to whether you should file a Chapter 7 business bankruptcy or Chapter 11 bankruptcy. The difference is that a Chapter 7 will liquidate the business whereas Chapter 11 will restructure the finances of the businesses and ultimately regain profitability. However, in order to file Chapter 11 bankruptcy, you have to demonstrate to the Court that once your debt has been restructured, the business will be able to generate a profit to repay creditors. In order for you to prove this to the Court, you are required to submit a restructuring plan with your bankruptcy petition.
A Chapter 7 bankruptcy helps close down businesses that are unable to generate a profit. When you file for a business bankruptcy, the Trustee will sell off the assets and use the proceeds to pay off creditors.
Whether you file for a Chapter 7 business bankruptcy or a Chapter 11 bankruptcy, it is important to know that it is a legal process and hiring the help of an experienced debt relief lawyer may help you get the best possible outcome of your case. Our business bankruptcy lawyers will:
- Determine whether a Chapter 7 or a Chapter 11 is the best choice for you.
- Advise you on what documents are required for the bankruptcy petition.
- Help you prepare your reorganization plan if you qualify for a Chapter 11 bankruptcy.
- Provide legal representation for any legal matters pertaining to your bankruptcy case.
- Speak to creditors on your behalf.
- Be available to address any concerns you may have about your case.