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Business Bankruptcy
Business Bankruptcy Attorneys to Help Your Business Bounce Back
Are you struggling with mounting debt, unpaid bills, and dwindling profits? Is your business on the brink of bankruptcy? Don't lose hope - North Colony Law Group can help you get back on track.
As experienced business bankruptcy attorneys, we understand the challenges and complexities of the bankruptcy process. We've helped countless businesses in similar situations successfully restructure and regain financial stability.
Our team of legal experts will work closely with you to assess your financial situation and develop a customized bankruptcy solution that meets your unique business needs. Whether it's Chapter 7 or Chapter 11, we have the skills and expertise to guide you through the process and ensure the best possible outcome.
Here are some of the ways North Colony Law Group can help your business overcome financial hardship:
- Evaluate your financial situation and determine the best course of action
- Develop a customized bankruptcy solution that fits your businessneeds and goals
- Protect owner's assets and ensure the business's legal rights are preserved
- Negotiate with creditors and lenders to reduce or eliminate debt
- Provide ongoing support and guidance throughout the bankruptcy process
At North Colony Law Group, we understand that bankruptcy can be a difficult and stressful time for any business owner. That's why we're committed to providing compassionate, personalized, and affordable legal services to help you navigate through this challenging time.
Contact us today to schedule a consultation with one of our experienced business bankruptcy attorneys. Let us help you get your business back on track and on the path to financial success.
Business Bankruptcy Options
If your Massachusetts business is a corporation, a partnership or LLC, our business bankruptcy attorneys can advise you on one of the following topics.
Business Chapter 7:
Going Out of Business
In a Chapter 7 Business Bankruptcy, the business stops doing business and closes its doors. The Bankruptcy Court will appoint a Chapter 7 trustee who will collect and sell the business assets that are not encumbered by a lien. After the Bankruptcy Trustee sells the business assets, the bankruptcy trustee will use the proceeds to repay the business' unsecured creditors. If the business has secured debts, then the secured creditors are entitled to collect their collateral that is secured by their debt.
Benefits of a Chapter 7
- Easy and orderly liquidation of the business.
- Business owners can walk away while Bankruptcy Trustee liquidates the business assets and pays creditors.
- Finality for creditors and business owners.
- Lower cost than a Chapter 11.
Business Chapter 11:
Reorganization
If a business would be profitable if it weren't for a heavy debt load; a Chapter 11 Bankruptcy could be the best option. A Massachusetts Chapter 11 Business Bankruptcy is a reorganization proceeding. A business that files a Chapter 11 Bankruptcy continues to operate while attempting to restructure its debts.
Benefits of a Chapter 11
- Business owners continue to operate the business during the Bankruptcy.
- Creditors cannot take collection action against the business during the Bankruptcy.
- Loan terms and interest rates can be modified.
- Rents & Installment payments can be deferred.
For Immediate Business Bankruptcy Assistance
If you or your business is facing a legal challenge that calls for sound advice and skilled representation, contact us today to arrange a FREE consultation with an experienced Massachusetts attorney.
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