Whittier Business Bankruptcy Lawyer
La Habra Chapter 7 Bankruptcy Attorney for Businesses
Businesses may be eligible for Chapter 7 bankruptcy if they meet certain criteria. In some cases, restructuring the business’s debts is not possible. In others, the business lacks significant assets. Regardless of the reason, filing Chapter 7 means going out of business when the bankruptcy process is completed.
At the Law Offices of Nicholas Gebelt, we assist businesses to file for Chapter 7 bankruptcy. We have represented retail stores, nonprofit organizations, sole proprietorships, and start-up businesses. If Chapter 7 is the right option for your business, attorney Gebelt will help you through the process.
Debt Relief for Businesses in Southern California
In Chapter 7 bankruptcy, a trustee is appointed to handle the liquidation of all of the business’s assets. For business owners, this can be especially helpful because the Chapter 7 trustee does all of the work of administering the assets and resolving the liabilities. It should be noted that businesses do not receive a discharge under Chapter 7 because at the conclusion of the case the business has been completely liquidated and therefore ceases to exist.
If Chapter 7 is inappropriate for your business, you may wish to consider a business reorganization Chapter 11. We will help you determine which option is right for your business.
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