Douglas & Cobb County Bankruptcy Attorney

Chapter 7 and Small Business Bankruptcy

A frequently asked question in the area of bankruptcy is whether a small business can file for this form of debt relief. The short answer is "yes", depending upon the circumstances of your business. Bankruptcy is a court-based process which allows your business to discharge all or most of its debts. Sometimes, a small business finds itself in the position of being unable to make a profit, has mounting debts and needs a way out. Chapter 7 bankruptcy can, in many cases, provide the answer to a small business that is not making it.

If you are considering bankruptcy for your small business, please contact an experienced Douglas & Cobb County bankruptcy lawyer from The Faucette Law Firm, LLC. We understand that your business means a lot to you and your family. We make it a point, therefore, to provide personalized service so that you can contact us any day of the week for advice and answers to your questions. When you retain one of our attorneys, this person will be with you from the initial consultation through to the end of your bankruptcy procedure. You won't be passed off to a paralegal or someone who doesn't know you or your case.

Small Business Bankruptcy Help in Douglasville, Fulton County and Cobb County

Chapter 7 is commonly referred to as "liquidation" bankruptcy. Its most frequent use is when a business is in debt to such an extent that reorganization is not feasible. In some cases, not having a large amount of assets in the business is another reason to use Chapter 7 to resolve your debt situation.

In this form of bankruptcy, a trustee is appointed by the court to take over the assets of your business and these are then used to pay off your creditors as much as possible. Once the creditors and the trustee have been paid, the court discharges your remaining debt. In other words, you will no longer be legally obligated for the monies that you once owed.

As with any form of bankruptcy, it is important that you use a firm with a proven record of success. We want you to feel informed and confident when we work on your behalf.

Contact a Douglas & Cobb County bankruptcy attorney to find out how to successfully file for small business bankruptcy.