Small 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 and
Exploring Your Options for Business Bankruptcy
We have been in practice for a decade and are known for our dedication
to providing quality advice and representation. 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, then 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 We 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.
free evaluation of your situation,
please reach out to us now at (404) 978-4411.