Is Your Georgia Small Business Going Bankrupt?
If your small business is having financial difficulties, the Limbocker Law Firm, LLC may be able to help. We serve individual and business clients from three Atlanta-area locations (in Marietta, Norcross and in Woodstock) needing debt management or estate planning assistance. Our advice could very well be the key to your business’ survival, particularly in this uncertain economy.
Experienced bankruptcy lawyer Brian Limbocker has nearly 10 years of experience helping Georgia businesses file Chapter 7 liquidation bankruptcy or Chapter 11 reorganization bankruptcy. If you feel your company's future is in jeopardy, contact us for straightforward answers to your bankruptcy questions. You can send us an e-mail or call us at 770-884-7218.
Is Business Bankruptcy Right For You?
Business owners facing credit problems always have the same question – “do I or does my corporation need to file for Chapter 7 bankruptcy?” The answer is simple. In most circumstance, the owner would need to file for Chapter 7 since the majority, if not all, of the business debts were personally guaranteed by the owner. The business would then be dissolved. There are circumstances in which the business would need to file Chapter 7, but generally a business will not need to file a Chapter 7. After the sale of unsecured assets and the dissolution of your corporation, a personal bankruptcy pleading may be in order to help you protect your non-business assets. Changes to the bankruptcy laws in 2005 have indeed made it more difficult to file for Chapter 7 relief, but many businesses are still eligible. An experienced bankruptcy attorney like Brian Limbocker can help you determine what the best method is for managing your debt and giving you a fresh financial start.
The Chapter 11 bankruptcy process differs from Chapter 7. Chapter 11 is commonly called “reorganization.” It resembles a Chapter 13 consumer bankruptcy in that you act as your own trustee. A negotiation then takes place between you and your creditors, and a percentage of your debt is repaid over three to five years. This method suits small business models, partnerships, proprietors and limited liability companies, and can be just the boost you need to keep your business afloat.
Call Us Today in Marietta, Norcross or Metro Atlanta
Chapter 7 liquidation or Chapter 11 reorganization could be the answer to your current business debt problems. Find out more during your free consultation with the Limbocker Law Firm, LLC. Feel free to call us at 770-884-7218 or e-mail us today.
* We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
