Owning your business is an adventure you will most likely never come to regret. When the business does well, the experience feels even more worthwhile. However, all it takes is one bad investment, the default of a large client or a major shift in the market to put a financial squeeze on your company. When that happens, you might find yourself wondering if a Chapter 7 business bankruptcy is right for you.
Companies do not often turn to Chapter 7 bankruptcy filing as it generally shuts down the business. The trustee assigned to the case then liquidates assets to pay creditors in a specific order. Bankruptcy courts do not need to discharge debts because the owing entity “dies” with them at the end of the filing process. Here are some of the many reasons businesses owners who choose this option do so:
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When our clients ask us this question, we ask them if they are ready to close their businesses. If there is some desire to keep the doors open and they can find a way to do so, it might be worth considering a Chapter 13 bankruptcy instead. Contact professionals at Seltzer Mayberg. We can work with you to determine what route might suit your business best.
David worked hard in getting me the best results possible. My case wasn’t an easy situation but with David’s help I was able to reach the best possible results.
Mr. Mayberg is an excellent lawyer. Very knowledgeable. Won my case. I am very grateful I found him and most of all I'm grateful the way he kept in touch with me about my case. Always took my calls or returned them right away showing that he doesn't just care about the money but also cares about your concerns.
David Seltzer is probably the most easy going attorney I had ever met. All I went through was clearly explained from our first meeting. I have been updated often about my case process and the outcome was very positive. If you need an attorney who speaks to you like a normal person, that answers your text and emails when you have questions, David is the one. Thank you again!
David Seltzer is probably the most easy going attorney I had ever met. All I went through was clearly explained from our first meeting. I have been updated often about my case process and the outcome was very positive. If you need an attorney who speaks to you like a normal person, that answers your text and emails when you have questions, David is the one. Thank you again!
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