Bankruptcy for Businesses

The law firm of Markowitz O'Donnell, LLP, in Lawrenceville, offers representation to businesses throughout New Jersey in bankruptcy matters. Whether you plan on using bankruptcy as a means of returning your business to viability, or have decided to take another direction, we can help you make sound decisions.

If you are the owner of a business and wish to speak to one of our bankruptcy attorneys about your debt relief options, please contact us.

Chapter 7 Liquidation for Businesses

Many business owners choose Chapter 7 bankruptcy to relieve their debt. In Chapter 7 bankruptcy, debt is liquidated. This is a good option for businesses that are dealing with an overwhelming amount of debt — possibly to the point of never being able to pay that debt back.

A business owner can file Chapter 7 bankruptcy if the business is a general partnership or sole proprietorship. However, if the business is an LLC or corporation, bankruptcy must be filed as a business entity — not an individual.

Chapter 7 bankruptcy is a good option for businesses that do not plan on operating post-bankruptcy. It is not right for every business or business owner. Talk to a bankruptcy attorney about the best debt relief option for your business.

Another option for businesses: Chapter 11 bankruptcy is a strong option for businesses and corporations that wish to continue operating after bankruptcy is filed. Markowitz O'Donnell, LLP, will guide you through the process and help you make decisions that will enable your business to prosper. This may involve negotiating with lenders directly to work out a plan for any remaining debts owed.

Talk To Us About Your Debt Relief Options

If you are considering a business bankruptcy and wish to speak to an experienced lawyer, we can help. Contact us today online or by telephone at 609-482-3138 or 866-437-1189.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.