A business bankruptcy lawyer has the knowledge and expertise to advise you on the various business debt relief options.
Is a Chapter 7 bankruptcy or a Chapter 13 bankruptcy best 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 11 business bankruptcy or Chapter 7 bankruptcy. The difference is that a Chapter 11 will restructure finances whereas a Chapter 7 will allow for the liquidation of the business. However, in order to file Chapter 11 bankruptcy, you have to indicate to the Court that upon restructuring, the business will be able to generate a profit to repay creditors. In order for you to prove this to the Court, your petition must include a restructuring plan.
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.
At Zoclaw.com, our business debt relief lawyers can help you with all things business debt related including: