Chapter 7 Bankruptcy for Small Businesses
If you are a small business owner struggling with debt, Chapter 7 bankruptcy may help. Chapter 7 bankruptcy can eliminate most or all of the debts for which you are personally liable. If you are a sole proprietor or your business is a general partnership, you are personally liable for your business's debts, and Chapter 7 may work well for you. If, on the other hand, your business is a separate legal entity, such as a corporation or LLC, you must file a bankruptcy on behalf of the business. While you may be able to use Chapter 7 in this situation, you'll need a lawyer to represent you.
-
Chapter 7 for Small Business Owners: An Overview
If you are a struggling small business owner, filing for Chapter 7 bankruptcy may help save your business or provide a simple way to liquidate it.
-
Chapter 7 Bankruptcy for LLCs and Corporations
Chapter 7 bankruptcy can help corporations and LLCs going out of business by providing an orderly liquidation of the business.
-
Which Business Debts Are Discharged in Chapter 7 Bankruptcy?
Find out whether Chapter 7 personal bankruptcy will wipe out your business debt.
-
Can You Keep Your Business If You File for Chapter 7 Bankruptcy?
In some cases, you might not be able to continue operating your business when you file for Chapter 7 bankruptcy. There are some exceptions, however. Learn which type of businesses and business assets a bankruptcy trustee is likely to sell in a Chapter 7 case.
Related Products
MORE
More Legal Topics
Get debt relief now.
We've helped 205 clients find attorneys today.
How It Works
- Briefly tell us about your case
- Provide your contact information
- Choose attorneys to contact you