Can I file for Chapter 7 bankruptcy as a business entity?
Chapter 7 is not available for business entities, but as the owner of a sole proprietorship, your business debts are also your personal debts. In this circumstance, filing for Chapter 7 is particularly advantageous as it will allow you to discharge all of your unsecured debt both personally and from your business. In circumstances such as this, it is actually possible to continue operating the business following bankruptcy.
If you would like to learn more about how bankruptcy may be able to solve the financial issues of your company, call our skilled Houston bankruptcy attorneys at Russell Van Beustring P.C., today at 713-973-6650.