Commercial Bankruptcy Attorneys Help You Take Action to Improve Your Business’ Financial Future
Is bankruptcy the right choice for your business?
Like an individual consumer, a business sometimes finds itself in the distressing situation of being unable to pay its debts. Also like consumers, businesses have the option to file for bankruptcy in federal bankruptcy court, which would release the business from some or all of their debt obligations. Our experienced Pennsylvania bankruptcy lawyers can advise your business about whether bankruptcy is right for you.
Bankruptcy choices for small businesses
Like consumers, businesses have the choice between alternate types of bankruptcies. Businesses usually choose either Chapter 7 or Chapter 11, but the choice between Chapter 7 and Chapter 11 is not always permanent. In addition, farmers and fisherman have a bankruptcy option, a Chapter 12, which is specifically designed for their situation. Under certain circumstances, once bankruptcy proceedings have begun, a case may be converted to a different chapter. Additionally, on occasion, businesses may be involuntarily pulled into bankruptcy by creditors.
Chapter 11 bankruptcy, often referred to as “reorganization” bankruptcy, is utilized by small businesses and large corporations alike. Chapter 11 gives your business the breathing room it needs to begin dealing with debt. Chapter 11 can most likely achieve the following:
- Give your business some breathing room from the IRS
- Stop creditors from calling all day long
- Consolidate your business debts into one comfortable monthly payment that your company can afford
- Keep the valuable remaining assets of your business from draining away
- Keep your business doors open and continue to operate while restructuring your finances
- Reorganize your company so that it runs more efficiently
- Understand the cause of your business’ financial difficulties and make the necessary changes so that it doesn’t happen again
By hiring an experienced and trusted Pennsylvania Chapter 11 bankruptcy lawyer from Case & DiGiamberardino P.C., you can ensure that the Chapter 11 bankruptcy process will be straightforward and effectual, and can make the difference between closing down and remaining sustainable. Learn more on our Frequently Asked Questions page.
Get started with a Pennsylvania commercial bankruptcy attorney
Don’t let your business go under. Our attorneys are ready to answer your commercial bankruptcy questions and help your business get back on the right track. Contact our experienced southeastern Pennsylvania bankruptcy law firm today to discuss your case. We serve clients located in Lancaster, West Chester, Reading, Wyomissing, and Malvern. Contact Case & DiGiamberardino P.C. by 610.372.9900 or online.