Katy Business Bankruptcy Attorneys
For many different types of companies, debt is simply a part of doing business. However, if this debt becomes unmanageable, it may become necessary to pursue debt resolution strategies. One of the most common solutions for businesses under significant financial pressure is to undergo bankruptcy. While this has a negative connotation for many, bankruptcy can actually be a reasonable method for returning your business to sound financial footing.
If your business is struggling with unmanageable debt obligations, an experienced legal professional may be able to help you resolve the situation. Contact Russel Van Beustring, a Katy bankruptcy lawyer, today at 713-973-6650 to speak with a knowledgeable member of our legal team about what you can do to solve your debt problems.
Types of Business Bankruptcy
The dedicated attorneys of the Russell Van Beustring P.C., understand that different businesses have different needs. Therefore, they will work with you to understand your goals and limitations and come up with a strategy to successfully manage your situation. If bankruptcy is the right solution for your business, you can generally pursue one of two options:
- Chapter 7 – in this form of bankruptcy, your business’ assets will be liquidated and the proceeds will be used to repay your creditors.
- Chapter 11 – in this form of bankruptcy, your business will remain functioning throughout the bankruptcy process, undergoing a restructuring that will ideally leave it more stable after it emerges from bankruptcy.
Regardless of which type of bankruptcy you may choose to undergo, the assistance of a qualified legal professional can significantly improve the outcome of your situation.
If you or someone you know is considering pursuing bankruptcy for your business, we may be able to help. Contact a Katy bankruptcy attorney at the Russell Van Beustring P.C., at 713-973-6650 today to discuss your situation with a qualified member of our legal team.