Guiding Small Businesses In Bankruptcy To Financial Recovery
The attorneys at Goering & Goering, LLC, have been representing individuals and businesses with financial problems for more than 60 years. Our small business bankruptcy attorneys in Cincinnati focus on small business financial restructuring and planning. While every small business is unique, the financial problems that may arise are often similar.
If your small business is distressed, call 513-838-2407 or reach out to our firm online for a free consultation.
Options For Distressed Businesses
Small businesses are often formed as sole proprietorship or partnerships. In either of these types of business formations, the business owner is personally responsible for the debt incurred by the business.
It may be necessary to file for personal bankruptcy protection. This enables the business owner to discharge both business debt and personal debt.
We can apply pre-planning bankruptcy strategies to:
- Guide the company out of financial distress
- Prepare to sell the business
- Organize for bankruptcy, while preserving assets
When you file for bankruptcy to discharge your business and personal debts, you will need to decide between Chapter 7 or Chapter 13 bankruptcy. The first step is to determine whether you plan to sell or dissolve the business or if you want to reorganize.
When you file Chapter 7, your business stops and non-exempt assets are sold by a trustee to pay creditors. Chapter 13 allows you to reorganize and pay back debts according to a repayment plan.
Strategies For Your Business
Our small business bankruptcy lawyers in Cincinnati can help you strategize to dissolve your current company, work out payment terms with banks, set up Article 9 sales, file for Chapter 11 bankruptcy, and more. Read what our clients have to say about working with us by visiting our testimonials page.
Connect With Us To Learn More
Our experience with small businesses across Southern Ohio and Northern Kentucky has led us to become the leading bankruptcy firm in Cincinnati for distressed companies. We can assess your situation, explain your options, and help you make an informed decision for your business. If you have questions regarding bankruptcy and your businesses, call 513-838-2407 to schedule a free consultation or contact us online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
