Bankruptcy Can Give Small Businesses A Second Chance
Dealing with debt can be difficult for anyone – but especially if you’re an owner of a struggling small business. When your family’s livelihood is threatened by insurmountable business debt, it may be time to consider filing bankruptcy.
At the Law Offices of K. Hunter Goff, P.A., I advise small-business owners about their legal options to overcome debt. I take pride in knowing how Florida bankruptcy judges, trustees and creditors’ attorneys interpret the code. I use this knowledge to ensure that my clients know what to expect when they file for bankruptcy.
Business Debt May Be Entangled With Personal Debt
Many of my clients have personally guaranteed debt for a business they own. If that small business does not make the payments on the debt, then you become the responsible party. What used to be business debt then becomes your debt. Ouch!
Sometimes, as an Orlando bankruptcy attorney, the best advice I can give my clients is to file personal bankruptcy, like Chapter 7, and get personal protection from the business debt liability. Once you’ve protected yourself from business creditors, you may find it’s not necessary to file bankruptcy for your small business.
Bankruptcy Does Not Always Mean Ending The Business
Whether you file for Chapter 7 bankruptcy or Chapter 13 bankruptcy, there are strategies that will allow you to keep your business running if it is in your best interest to do so.
As with all my clients, with my small-business clients l conduct an in-depth analysis of your situation, taking into account all of the financial factors in your small-business bankruptcy case to determine if it makes sense to keep the business running. I will give you an honest and straightforward assessment of your situation and explain the options and their benefits and downfalls so you can make an educated decision about your financial future.
It is not always easy to make these tough decisions for your business. However, you can count on the fact that I keep your best interests at heart when providing insight along the way.
Breathe Fresh Air Into Your Business With Legal Help
Bankruptcy and small businesses can be tricky – no doubt about it. I take a nonjudgmental approach to the decision my clients make. If you are ready to discover what options are available to you in this area, contact me to get started by calling 352-432-7003 or emailing me today. We can discuss how I can help you make some admittedly tough decisions about your small-business debt.
The Law Offices of K. Hunter Goff, P.A., is a debt relief agency. The firm helps people file for bankruptcy relief under the Bankruptcy Code.