New Jersey Commercial Bankruptcy Lawyer
Businesses, like people, occasionally become overextended and unable to meet financial responsibilities. Commercial bankruptcy may be the best option for businesses looking to reorganize debt, and those looking to liquidate assets and move on to a new chapter in their lives.
Klafter & Mason, L.L.C., a New Jersey law firm, is ready to assist small and mid-size business owners with the commercial bankruptcy process. We offer a free initial consultation to discuss if commercial bankruptcy may be the right strategy for your business. Contact us toll free at 866-219-2495 or by e-mail.
Businesses May File for Chapter 7 Bankruptcy.
Chapter 7 bankruptcy is not an option only for people; it is available to businesses as well. Also known as liquidation bankruptcy, this form of bankruptcy addresses a business's insolvency by liquidating assets to pay creditors. Under many circumstances, Chapter 7 bankruptcy effectively leaves no liability for discharged debts.
Commercial Bankruptcy May Save Your Home From Foreclosure.
Filing for Chapter 7 bankruptcy will result in the liquidation of business assets and dissolution of the business. Commercial bankruptcy is the way to protect against potential future liability by ensuring that all the financial affairs of the business are tied up.
If dissolution is not handled properly, business owners may be held liable for unresolved debt obligations. Additionally, owners may have assumed personal loans for business operations or may have used personal property, such as the family home, as collateral for business loans. If not handled carefully and with the proper expertise and planning, the business owner may face home foreclosure and personal liability.
Klafter & Mason, L.L.C. Will Help You Protect Your Interests.
If your business is facing financial difficulty, Klafter & Mason, L.L.C. can help you determine if commercial bankruptcy is the appropriate strategy for your business. Contact us today to schedule a free initial consultation with an experienced bankruptcy attorney.
Our Manalapan, New Jersey, office is handicapped-accessible and is conveniently located just fifteen minutes from the New Jersey Turnpike and the Garden State Parkway. Parking is free. Contact us todayby telephone at 866-219-2495 or by e-mail.