It is becoming increasingly difficult for small to medium-sized businesses to function in today’s environment. There may come a time when a company’s debt burden becomes unsustainable. Shutting down the business is not a desirable option as it means a loss of livelihood for both the owners and the employees. Fortunately, the US bankruptcy code provides options for businesses which are struggling with debt. Our Las Vegas business bankruptcy lawyer handles such matters and provides a high level of service. Contact us online or by telephone to schedule an initial consultation.
Business bankruptcy attorney helping Las Vegas companies to reorganize or eliminate debt
The options for a company that wishes to file for bankruptcy will depend on the structure and nature of the businesses. Sole proprietors and similar entities must file a personal bankruptcy as they are considered indistinguishable from the business. Other times, the company itself may file either Chapter 7 or Chapter 11. The former would be filed for a complete liquidation while the latter would be for companies that wish to reorganize and reduce their debts in order to continue operating. Understanding which options are available to your company, and which best fits your situation, will depend on the specifics of your business. It is strongly suggested that you discuss your situation with a lawyer.
Nikki Dupree-O’Brien is a business bankruptcy attorney assisting companies that are in distress. She will use your initial consultation to gain an understanding of your situation and to present you with options. Nikki will file your Petition with the Bankruptcy Court as soon as possible. This will ensure that the collection of your debts is stayed while the matter works its way through the system. If you are restructuring your debts, then it may be necessary for your affairs to be overseen by a “committee of creditors.” Nikki will assist you through this process and will make sure you know what to expect as the situation moves forward. At the completion of your case, the company’s debts will be reduced, if not eliminated. Contact us today to get started.
Las Vegas attorney helping small business owners who need to file personal bankruptcy
It is common for small-business owners to have intertwined their finances with those of their company. This can include the signing of personal guarantees, taking out loans that were used for business purposes, and more. If the affairs of your company have impacted your personal finances then our lawyer can assist with the filing of Chapter 7 or Chapter 13 bankruptcy. We believe that everyone is entitled to a fresh start and we are ready to assist you.