Murrieta Chapter 7 Bankruptcy Attorney Providing Business Debt Relief
Sole proprietors, entrepreneurs and owners of small- to medium-sized businesses may be eligible for Chapter 7 bankruptcy if they meet certain criteria. Perhaps the business does not have enough assets to file for a different chapter. For some businesses, reorganizing their debts is not feasible. In these cases, Chapter 7 may be available.
If your business is struggling, we may be able to assist you. The Law Offices of Charles X. Delgado represents small businesses in Chapter 7 bankruptcy proceedings. Our lawyer has 39 years of legal experience. He can help you determine whether your business is eligible for Chapter 7 bankruptcy and explain the process. For a free consultation with a Temecula business bankruptcy attorney, please call 951-795-4058 or contact us online.
What to Expect From Chapter 7 Business Bankruptcy
Chapter 7 for businesses involves the liquidation of assets such as vehicles or equipment. A trustee will be appointed to handle the liquidation of assets, relieving the business owner of that duty; as the business owner, you will not have to interact directly with your creditors. The automatic stay provided by filing bankruptcy will also prevent creditor harassment and collection actions.
Depending on the amount of business assets you have, your bankruptcy case will last for three to four months or until all of the assets are liquidated and the funds distributed to your creditors. At the conclusion of your case, your business will no longer exist.
In many instances, business bankruptcy also involves personal bankruptcy for the business owner. We can assist you with both types of bankruptcy so you are able to truly make a fresh financial start.
Please call our California office at 951-795-4058 to schedule an appointment with a Murrieta Chapter 7 bankruptcy attorney today. Your consultation is free.
