Bankruptcy may be a viable option to relieve or reorganize business debt. This is true whether you are a sole proprietor, LLC, or corporation. It is not always necessary to cease doing business or close the business when you file bankruptcy for debt relief.
Although the general information provided herein about personal bankruptcy is applicable to a bankruptcy filing by an individual who owns a business, each business client and entity will have particular and unique situations, problems and challenges that will require a personalized analysis and review to determine the bankruptcy options available. Proper application of the rules governing business bankruptcies can be complicated and it is highly recommended that you schedule a free initial consultation so we can review together your business financial situation and bankruptcy solutions.