Do Debt Issues Mean Your Business Is Going To Close?

Last updated on June 6, 2024

Debt problems do not mean the end of your business or the total collapse of your company’s ability to do business. Unmanageable debt is a definite problem, but there are many ways to overcome this. If you’re worried about how you will handle the major liabilities and the possibility of bankruptcy ahead, you must speak with a knowledgeable team.

At R3M Law, LLP, our team of bankruptcy attorneys helps businesses and corporations in New York with debt problems. Corporate bankruptcy is a complex part of the bankruptcy code and demands significant planning and strategic thinking. We will educate in detail on the necessary steps you and your business need to take in order to be successful.

What Is The Corporate Bankruptcy Process?

If your debt is at a point where your business cannot manage its upkeep, it’s time to make the hard choice. A business has two options for a bankruptcy filing:

• Chapter 7: This option is also available to individual consumers, and is a “liquidation” bankruptcy. Often, choosing this bankruptcy will mean that the company closes its doors.
• Chapter 11: This option is not available to consumers and involves debt reorganization. The company’s debts are consolidated and a new payment plan is crafted for all qualified debts.

Whichever bankruptcy option you choose, we can take on the burden of proper filings, research and document management during this stressful process. Our lawyers take the lead in these proceedings  and do whatever we can to make the outcome better for your business.

Take The First Step To Overcoming Business Debt

We know the courts. We know all the viable options, and we put our clients’ interests first. Based in New York City, our corporate bankruptcy attorneys welcome your inquiry or referral. Please contact us by telephone at (877) 373-6811 or online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.