In recent months, many small businesses have fallen on hard times as a result of the global coronavirus pandemic. Even businesses that were growing and thriving when the calendars switched over to 2020 now find themselves wondering how or if they will survive. Some small businesses have received financial help from the government in the form of the Paycheck Protection Program (PPP) or an Economic Injury Disaster Loan (EIDL). However, small businesses that want to stay afloat have a lot of catching up to do, even if they were able to take advantage of one or both of these programs.
If your small family business can relate to any of this, you might find it beneficial to speak to a small business bankruptcy attorney in California. You might be relieved that you have options that can reduce your debt, manage your monthly payments, and allow you to continue operating. Your options will depend on the structure of your business, the amount of debt and assets you have, and if you desire to continue the business.
- How You Can Benefit from a Chapter 7 Bankruptcy as a Small Business Owner
- Problems with Chapter 7 Bankruptcy and Small Businesses
- Small Business Owner Benefits of Chapter 13 Bankruptcy
- Chapter 11 for Small Businesses
Contact a California Small Business Bankruptcy Lawyer Today
If it’s unlikely that the financial situation of your small family business will substantially improve soon on its own, the best thing you can do is to reach out to an experienced California small business bankruptcy attorney today. Your attorney will assess the financial status of your business and help determine the steps that will result in the most favorable outcome to your case. By taking this step, you are taking control of your situation and moving towards financial security.
Your California small business bankruptcy lawyer can explain more about your bankruptcy options, as well as their benefits and drawbacks in your individual personal or business situation.
Schedule your family business bankruptcy consultation by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. or calling (408) 909-0125 today. We want to help you achieve a brighter financial future and find success in whatever you might aspire to do.