Business Bankruptcy Lawyer Columbus OH
Columbus Small-Business Bankruptcy Lawyer
According to the Small Business Administration (SBA), more than 50 percent of small businesses fail in the first five years. If your business is experiencing serious debt problems, filing for bankruptcy may give you the time you need to save it.
Bankruptcy courts and trustees know that small businesses are important to our society and need protection. Filing for bankruptcy offers that protection by giving business owners a safe haven from creditors and allowing them to renegotiate or discharge their debts. Sometimes the threat of filing bankruptcy gives business owners the clout they need to negotiate with creditors.
At White & Fish, L.P.A., we help all types of businesses ranging from retail stores, restaurants and construction companies to service businesses and financial institutions.
Businesses have two bankruptcy options:
Chapter 7 bankruptcy, which is an orderly wind-down for businesses that will not continue.
Chapter 11 bankruptcy, which is a reorganization and debt repayment plan for businesses that have value as an ongoing concern.
Business owners can also file Chapter 13 or Chapter 11 bankruptcy to protect personal assets, such as an office building that is titled in the owner's name.
The Chapter 11 Plan for Business
There are special bankruptcy plans geared towards businesses. Chapter 11 bankruptcy can put your company in a position for future success after paying off your debts. If your company is struggling to get off the ground because of your debts, the end goal of chapter 11 bankruptcy is to leave you with a viable business after you have completed your confirmed plan. Unlike personal bankruptcy, there is no set time frame for completing a business bankruptcy plan. We will help you develop a confirmable plan to pay off your debts, and give you the fresh start you need.
Although the decision to file for bankruptcy is always a difficult one, there are times when it cannot be avoided. At the business law firm of White & Fish, L.P.A., our attorneys can help you review all your options and make an informed decision about whether business bankruptcy/reorganization in Chapter 11 is your best choice.
With nearly 60 years of combined experience, we are experienced with business bankruptcy. Attorney Arnold White is a former Chapter 7 bankruptcy trustee. The firm carries a Martindale-Hubbell "AV-rating", the highest rating of legal knowledge and ethics.
It is important to understand all of the options, and to make an informed decision with as much pertinent business intelligence as possible. To discuss your unique circumstances and the best options to protect your business, contact White & Fish, L.P.A., Inc., today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
