Jacksonville Business Bankruptcy

Choose the Right Type of Bankruptcy for Your Business

If your business is in financial trouble, there are two decisions to make: should your business file for bankruptcy and, if so, which type of bankruptcy you should seek.  To make these decisions, get legal advice from an experienced bankruptcy attorney.

The decision of whether your business should file for bankruptcy is not an easy one.  King & Dolaghan, P.A. looks for alternatives to bankruptcy and seeks to exhaust the other options available.

Business Bankruptcy Attorneys in Jacksonville

Once your business has decided that bankruptcy is the right option, we help you figure out which type of bankruptcy is right for you.  Some choices may depend on the type of business entity, and others depend on your ultimate goal.  Work with an experienced bankruptcy attorney in Jacksonville to make that choice.

If your business is a sole proprietorship, Chapter 7 and Chapter 13 bankruptcies are the options for your business.  Because you own the business as an individual, your only bankruptcy option is a personal bankruptcy.  Chapter 7 is a liquidation bankruptcy; Chapter 13 is a reorganization bankruptcy.

If your business is a corporation or partnership, Chapter 7 and Chapter 11 bankruptcies are the options for your business.  Chapter 11 calls for a reorganization proceeding that allows your business to reorganize outstanding debts and continue to operate the business; Chapter 7 calls for liquidation of your business.

Don’t make this choice alone.  Get help from our experienced bankruptcy attorneys.  Contact us for a free initial consultation about your business’s financial troubles.

Call 1-904-387-9886 for a bankruptcy attorney in Jacksonville.