Boston Commercial Bankruptcy Lawyer
Commercial Bankruptcy
Entrepreneurs put their hearts and souls into their businesses. But despite their best efforts and most carefully planned strategies, their businesses often run into financial trouble. If your business is not generating enough money to cover your debt, it may be time to consider filing for commercial bankruptcy.
Boston bankruptcy lawyer Joshua Spirn has the experience and knowledge to help you form a financial plan and follow it to success.
Types of Commercial Bankruptcy
Businesses can apply for bankruptcy under several different chapters of the Bankruptcy Code, including:
The differences between these types of bankruptcy relate to the type of business you run and the way you will pay back your creditors. Whichever chapter you file under, Boston commercial bankruptcy attorney Joshua Spirn is prepared to fight for your financial future.
Commercial Reorganization
Commercial bankruptcies filed under Chapters 11 and 12 are both forms of reorganization. This method will allow you to stay in business while repaying creditors under the supervision of a bankruptcy court. The court will determine a financial plan for your company and will make sure that you follow it. Chapter 11 is available to all businesses, while Chapter 12 is specifically for family farmers and fishermen.
Commercial Liquidation
Sometimes called a straight bankruptcy, commercial liquidation under Chapter 7 works the same way for businesses as it does for individuals. Your business will be closed, and your assets will be sold off to pay back your creditors. This is a difficult process to go through, but in the long run, it will leave you with a clean slate, credit-wise.
Contact Us
If your business is sinking into debt, there is a way out. We can offer you the advice and representation you need to make it through this difficult time.
Contact the offices of
Boston commercial bankruptcy attorney Joshua Spirn & Associates at 800-975-5346.