Assisting Rancho Cucamonga Companies Facing Overwhelming Debt
Businesses may also face high levels of debt that make it difficult to turn a profit or pay employees. Whether a company is a sole proprietorship, a partnership, or a large corporation, bankruptcy is always an option when seeking financial protection.
Winding Down Operations with Chapter 7
As with individuals and couples, all companies can seek debt relief through a Chapter 7 petition. This will result in the sale of most of the company’s assets and will cause the company to cease operations. Chapter 7 may be a valid option for business owners looking to wind down operations. A skilled lawyer could help companies understand the benefits of Chapter 7 bankruptcy and guide them through the debt relief process.
Let a Rancho Cucamonga Bankruptcy Attorney Help
Overwhelming debt is something that millions of individuals, couples, and businesses deal with. It can seem impossible to dig out from under this heavy burden, especially with the constant threats of collections and lawsuits. Fortunately, you can seek relief by filing a bankruptcy petition.
Chapter 7 and Chapter 13 bankruptcies are the most typically filed but have different methods, procedures, and timelines. Chapter 13 bankruptcy has more protections than Chapter 7 but takes much more time to complete. Attorney Terrence Fantauzzi has many years of experience with bankruptcy. He can help you understand the differences between these forms of debt relief so you can make the best choice for your particular situation.
Whether you have calculated your debts or not, call our office for a free consultation. A Rancho Cucamonga bankruptcy lawyer could evaluate your current financial situation, suggest a debt relief plan that fits your needs, and take the necessary steps to bring these plans to fruition. Contact us today to begin working toward a fresh financial start.