Business owners who find themselves financially troubled can explore ways to get their business back on track by filing for business Chapter 7 or Business Chapter 11 bankruptcy. A business bankruptcy is a voluntary legal proceeding which may be filed by a financially troubled business or company that is seeking protection from its creditors. These two types of bankruptcy options available to businesses may be used to achieve different objectives. For example, the business may file a Chapter 11 to financially recognize or restructure the business. Similarly, a Chapter 7 may be filed to liquidate the business altogether. If you are not sure which option is better for your business, get help from a business bankruptcy attorney in California. You can also call us at (562) 777-9159 to speak with our business Bankruptcy lawyer in Whittier, CA.
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