Small Atlanta Businesses & Bankruptcy
Atlanta Bankruptcy Lawyer Handling Business Debt
When you open a business, you try to account for all future possibilities
of success and debt. However, it is impossible to predict exactly what
will happen and when. If you are a small business owner and are currently
facing challenging financial times, small business bankruptcy may be a
helpful option for you to consider. It is important that you take action
to consult with an
Atlanta bankruptcy lawyer who can advise you on your options. At Khoshnood Law Firm, P.C., we have
advised thousands of individuals like yourself on business-related debt
Exploring Your Options for Business Bankruptcy
In order to determine if bankruptcy makes sense for you and/or your business,
there are many different questions to consider. For example, are you trying
to figure out how to deal with your creditors while still keeping your
business afloat? Or are you trying to shut down your business entirely
and close shop?
If you are trying to close your business down, you may not need a small
business bankruptcy at all, since a corporate entity like an LLC or an
incorporation does not receive a discharge of a corporation’s debts.
The closing down of the business may be all that is needed, however most
lenders who lend to small businesses require personal guarantees from
the principals of the business. That way when a business fails, the creditor
can go after the owners of the business.
If you are trying to keep your business afloat, there are a few questions
to ask yourself:
- What needs to happen for your business to keep operating?
- Do need to increase revenue?
- Do you need to decrease expenses?
- Do you have a collection issue?
- What has to happen in order for your business to be profitable?
How Our Firm Can Help
If nothing can save your business, then the next step is to determine how
you can walk away from your business with the least amount of damage to
you personally and your family. An Atlanta bankruptcy attorney from our
firm can provide you with legal advice on this topic.We have been in practice
for a decade and are known for our dedication to providing quality advice
free evaluation of your situation,
please reach out to us now at (404) 978-4411.