How Can I Keep My Small Business?

Small businesses can suffer from large amounts of debt and the inability to maintain strong financial standing with creditors. This could happen when dips in the market leave them with little cash flow to meet the demands of various liabilities.

In certain situations, personal bankruptcy can be used to help small businesses reorganize debts and develop manageable repayment plans. At the Law Office of Ginger C. Cord, PSC., I work with small businesses (i.e., contractors, mechanics, salon owners) to help them get out of debt while retaining control and operation of their businesses.

Small-Business Bankruptcy Through Chapter 13

By using Chapter 13 bankruptcy, debts for small proprietors can potentially be restructured into repayment plans. Sole proprietors typically benefit most from using Chapter 13 as a method of business reorganization.

Streamlining your business in this way could help operations stay afloat and help you retain control of your day-to-day finances while finding a manageable way to keep up with past debts such as:

  • Mortgages
  • Business vehicles
  • Manufacturing and production equipment
  • Outstanding balances with vendors

Every business is different and requires a thorough, detailed analysis of business assets and liabilities. To better understand whether or not personal bankruptcy can help your business stay afloat, contact an attorney.

Get Help For Your Business From A Bankruptcy Lawyer

You should not approach the daunting task of small-business reorganization alone. Instead, you should work with a competent, experienced bankruptcy attorney. I have assisted numerous clients successfully reorganize their companies. Schedule a consultation at my law office, conveniently located in Lexington. Call 859-963-2073, or send an email online.

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