If your business is unable to pay its debts or is struggling to stay afloat in these difficult economic times, you may be eligible for business bankruptcy under either Chapter 7 or Chapter 11 of the Bankruptcy Code. Chapter 7 is a liquidation of assets that effectively ends the business, while Chapter 11 involves a reorganization of the company in order to pay off creditors.
Bankruptcy is a serious situation for any business and should be regarded as such. We can help you sort out the issues and determine whether Chapter 7 or Chapter 11 is the correct course of action for you and your business.
At Gilman & Edwards, LLC we are well versed in all types of bankruptcy filings, as well as alternatives to bankruptcy — loan modifications, work-outs, debt settlements, IRS offer-in-compromises and mediation. Put our experience and knowledge to work for your business if you are considering a bankruptcy filing. Contact us to set up a free initial consultation and find out if bankruptcy is the right move for your business