Starting your own business is a risky investment even in the best economy. However, with the recent ups and downs of our economy more and more small businesses have been forced to re-evaluate and re-organize. This is not something that you can control. Filing for business bankruptcy provides you with the opportunity to try again without having to shut your doors completely.
Whether you have a small business, a large business or anything in between, if you are having trouble staying afloat but are not willing to give up, then consider business bankruptcy. Our Minnesota bankruptcy attorney can help you understand this option and determine if this is the solution that will not only help relieve you of debt but also help ensure your success this time around. Contact the Buettner Law Group, LLC today at 612-377-5311 for a free initial consultation.
Minnesota Small Business Bankruptcy Lawyer
Filing for business bankruptcy is not the end. In fact, several very successful companies have filed for business bankruptcy once, twice or even more, in their history. This includes companies such as Enron, Chrysler, WorldCom, Conseco, Lehman Brothers, Washington Mutual and General Motors. Filing for bankruptcy is your alternative to throwing in the towel.
Small Business Bankruptcy Options
Small businesses can file for chapter 11 or chapter 7 bankruptcy. Chapter 11 bankruptcy allows you to reorganize your business so that you will pay off your debts in a repayment plan rather than liquidate. Chapter 7 bankruptcy allows you to liquidate your assets and you are able to file through your business or on an individual basis. Both options are available to:
- Sole proprietors
- Business partners
You may want to file as an individual or you may want to file through your business. The most important thing to understand is that you will not lose your home, your personal belongings and other assets that you and your family have built together just because you need some financial assistance with your business. Often business and personal life will overlap and it is our mission at the Buettner Law Group, LLC to help you understand that filing for business bankruptcy doesn’t mean that your personal financial situation will be impacted. We can help you determine which chapter is right for your business, your family life and your future.
Bankruptcy Lawyer Minnesota
At the Buettner Law Group, LLC we understand how the success of your business can impact your entire world. Problems at the office often result in problems at home as well. You may be under tremendous pressure at work that you have to bring home with you every day. Your relationships may suffer; you may feel drained and emotionally exhausted and you may feel like a failure. It is important to keep positive during this difficult time. You are in good company, in fact, almost all millionaires have filed for bankruptcy once before hitting it lucky.
Bankruptcy is not the end of the line. In fact, it could be the break your business needs. To learn more about filing for business bankruptcy, contact Brea Buettner-Stanchfield, your affordable Minnesota small business attorney. Contact us today at 612-377-5311 for a free initial consultation.