Bankruptcy Solutions For Distressed Small Businesses
Has the amount of your debt increased as revenues decreased and credit dried up in this difficult economy? If your small business is “under water,” our knowledgeable attorneys will sit down with you to run the numbers and explore bankruptcy solutions to salvage your business or cut your losses.
Simon, Fitzgerald, Cooke, Reed and Welch, is Louisiana’s oldest bankruptcy law firm, and that is the sole focus of our practice. We have represented sole proprietors, businesses and owners of businesses statewide in resolving debt problems through Chapter 7, 11 and 13.
Board-Certified Business Bankruptcy Attorneys
Two of our experienced lawyers are certified by the Louisiana Board of Legal Specialization as business bankruptcy specialists. All our attorneys have experience in business cases. Contact us today to arrange a free initial consultation at one of our five convenient offices statewide:
Shreveport • Alexandria • Lafayette
Exploring Options For Businesses In Debt
Our attorneys will help you in reviewing your current financial picture and the prospects for returning to profitability. We can assist you in making an informed decision on the best course of the business and for the individual(s) owners of the business.
- Chapter 11 reorganization — Chapter 11 bankruptcy offers a reprieve from most creditors while the debtor business forms a plan to repay all or a portion of the debts over time. Sometimes, small-business owners try to prop up a losing venture. Chapter 11 can be complex and costly. We can help determine if getting “back in the black” is realistic. If you operate as a sole proprietorship, a Chapter 13 for your business may be the best method to reorganize your business.
- Business Chapter 7 bankruptcy — If your business is not viable, Chapter 7 liquidation may be the prudent move. You may be able to close the current business and start over.
- Chapter 13 repayment plan — A sole proprietorship (DBA) may qualify for Chapter 13 protection from creditors, enabling the owner to restructure, reduce and/or eliminate unsecured debt while restructuring secured debt. The complexity and costs associated with a business Chapter 13 are much less than a business Chapter 11.
Contact A Bankruptcy Attorney Today
The Simon, Fitzgerald, Cooke, Reed and Welch, firm understands business and we know business bankruptcy law. Call toll-free at 888-341-8091 for a free initial consultation.