Bankruptcy And Your Business
At the law firm of Jeffrey M. Rosenblum, P.C., we offer a free initial attorney consultation to answer your questions about personal and business bankruptcy. Many business owners need advice concerning both types of bankruptcy, since business debts may be backed by personal assets. We have offices in Westchester, Nassau and Suffolk County, as well as Brooklyn and London, UK.
Some Facts About Business Bankruptcy
Businesses facing bankruptcy have different financial and tax implications than individuals in the same situation. The attorneys at our firm have the comprehensive knowledge and skills to offer you and your business such options as:
- Chapter 7 bankruptcy is the most common form of business bankruptcy, as it provides complete debt relief. If you are looking to completely liquidate and dissolve your business, this is most likely the option for you.
- Chapter 11 bankruptcy can save your business. It calls for business reorganization and restructuring of current debts. Chapter 11 bankruptcy relies heavily on working with creditors. It is a complicated road to take, but we can help you gather the appropriate documents and information to attempt to save your business.
If your business files Chapter 11 bankruptcy, it may be able to avoid prior business leases and contracts, and restructure mortgages and debts. Past-due sales taxes and withholding taxes (Social Security) may be reduced to a manageable level or paid over a period of years. Bankruptcy is a viable option that can save many people years of financial burden.
Business trust fund taxes and bankruptcy: As an individual owner of a business, you are personally responsible for the business trust fund taxes. Our firm has extensive experience in resolving business tax disputes in and out of bankruptcy.
Free Attorney Consultation
For a free initial consultation with an experienced small-business bankruptcy lawyer, call 866-394-2661 or fill out the contact form on this website. We are a debt relief agency. The law firm of Jeffrey M. Rosenblum, P.C., helps individuals and business owners file for bankruptcy relief under the U.S. Bankruptcy Code.