Guiding Small Businesses Through Bankruptcy in St. Louis
Small businesses have taken a pounding in the aftermath of 2008's crisis in the credit and capital markets. If your business is facing difficult debt pressures, contact an experienced bankruptcy attorney at Affordable Bankruptcy in St. Louis.
Call 866-793-6347 for dependable advice about small business bankruptcy
In our experience, few small businesses have the time, resources or access to credit that can make the stresses and uncertainties of Chapter 11 worth your while. For most proprietors, Chapter 7 liquidation will make much better sense as a vehicle for winding up the affairs of a struggling operation, tying up loose ends, and dealing with the practical challenges of avoiding personal liability on guaranties and pledges.
At Affordable Bankruptcy, we work closely with each client to assess your financial situation and determine whether bankruptcy is right for you. We give you practical advice and straight answers to your questions. For small businesses, we recognize that the primary objective is often to keep an owner or key partner's personal finances clear of the business debt problems.
Sometimes, we'll need to file a Chapter 7 case for the business, liquidate the remaining assets and discharge the debts, and more or less simultaneously file a Chapter 7 or Chapter 13 case for the individual owner if there's no better way to escape personal liability on a guaranty.
In other cases, we can save a business for a sole proprietor by filing an individual Chapter 7 case styled as the person "dba" the business. This gives you the opportunity to protect "tools of the trade" as exempt assets and start fresh when conditions improve.
Our eastern Missouri business bankruptcy clients include building contractors, self-employed professionals, retailers, restaurateurs and family businesses of all kinds. For dependable advice about your debt relief options and information about the basics of bankruptcy for a small business, contact a lawyer at Affordable Bankruptcy in St. Louis.
