Houston Business Bankruptcy Attorneys
Debt is often a necessary cost of doing business: the expenditures required to get a company started, not to mention regular monthly expenses, frequently require business owners to borrow in order to fund operations. However, in some cases business debt obligations may become unmanageable. Fortunately, businesses in this situation have a number of different options available to them for resolving debt.
If your business is struggling with overwhelming debt, pursuing business bankruptcy may be the best method for returning to sound financial footing. Contact the Houston business bankruptcy lawyers at the Russell Van Beustring P.C., today at 713-973-6650 to discuss the details of your situation with a qualified member of our legal team and learn more about what you can do.
Types of Business Bankruptcy
The experienced legal professionals at the Russell Van Beustring P.C., will work with you personally to understand your business’ financial situation and help you determine the best course of action to take. Most businesses pursuing bankruptcy will file for one of the following types of business bankruptcy:
- Chapter 7: Under Chapter 7 bankruptcy, a court-appointed trustee liquidates the business’ assets and disburses the proceeds to creditors.
- Chapter 11: Under Chapter 11 bankruptcy, a business is restructured and allowed to continue operation throughout the bankruptcy process, ideally emerging fully functional on the other side.
Although unmanageable debt obligations may feel overwhelming, it is important to realize that there are legal options available to you and your business at this time to help relieve you of this burden.
In a slow economy, even the most well-managed businesses may find themselves struggling with overwhelming debt. Fortunately, a qualified lawyer can help businesses in this situation overcome their debt problems. Contact a Houston bankruptcy attorney at the Russell Van Beustring P.C., today at 713-973-6650 to speak with an experienced legal professional and begin your return to financial freedom.