Small Business Support
The modern world of commerce is fast moving and is always growing. It is what drives our economy and is what many small businesses get started in, each year. Those small businesses play a huge part in the economy, responsibly employing a great number of people and making up a large portion of total tax payments. However, no matter how diligent a small business may be, unexpected circumstances could present themselves and lead to financial troubles. In far too many cases, small businesses succumb to bankruptcy. If this is the case, or looking like it could become one, for your company, then you need to start considering your options. There are various ways to handle the process but the important thing is you do it with clear understanding and confidence. When you come to us, at Bankruptcy Law, Round Rock, that is exactly what we will make sure is going to happen, through our superior small business support service.
Small Business Bankruptcy Attorneys
Our expert attorneys have been assisting small businesses, in Round Rock, for many years. We understand the ins and outs of all sorts of bankruptcy and know how each can be managed effectively, so you and your company are able to bounce back. All it is going to take is some quality guidance and support, something you know we will provide you with, every single time.
If your small business is filing for bankruptcy and is going to be left with few options to carry on in the future, filing under chapter 7 may be the most advisable option. This involves liquidating all of your assets, in order to repay the debt amount. The bankruptcy trustee will be in charge of selling off various assets, such as property, accounts and assets, in order to fairly repay the creditors. Following the correct legal process and maintaining transparency, all creditors will be able to see that they are being given a fair outcome. If your business is considering this particular option, then we will be able to help you through the process. We’ll make sure that all documentation is properly filed and recommend the best ways to keep your creditors appeased.
Another viable alternative would be chapter 11 bankruptcy. This particular type would allow your company to continue operating under a new structure, once you have been able to repay your creditors. Hence, this method is all about your restructure. You could create a reorganization plan, which would see you reaffirming repayment plans, whilst still being able to make your business profitable. If you think you may like to follow this method for your business, then you need to make sure it is done effectively and under the proper, legal advice.
A chapter 13 bankruptcy may also be able to help your small business restructure, to continue with operations in the future. Assuming you are a sole proprietor, this could allow you to reorganize repayments and continue with a profitable business. Again, this one is going to need some professional legal advice and expertise, if it is going to work for your company. So, if you feel this is going to be the best choice for you, the best thing you could do is enlist our great services, at Bankruptcy Law, Round Rock.