If you have taken out loans that you cannot repay or are in personal debt because of business expenses, filing bankruptcy may be the fastest and smartest way to restore your credit and move forward.
Attorney Harriet Langston has been steering small businesses out of financial ruin in Texas for more than 28 years. Whether you want to petition for a discharge of debts or to salvage your small business and plan a return to profitability, Ms. Langston may be able to help you.
Get Guided Legal Support You Can Trust
Small business bankruptcies for corporations, partnerships and LLCs must be filed in bankruptcy court, which means that you need a licensed attorney to represent you in reorganizing unwanted business debt or liquidating a failed company. It's important to find someone who you are comfortable with because filing requires complete transparency about your assets, liabilities, income and expenses.
Ms. Langston is an experienced Dallas bankruptcy lawyer who is familiar with the filing process. As your lawyer, she will explain the benefits of filing Chapter 7 versus Chapter 13 or even Chapter 11, help you to gather required documentation and prepare required paperwork, represent you at the meeting of creditors and see you through the complete legal process with a professional level of attention.
Filing Chapter 7 Versus Chapter 13
Chapter 7 bankruptcy is a fast-paced, more affordable bankruptcy that essentially closes and liquidates your business. Sole proprietors are eligible for a discharge of debts, but business organizations that do not receive a discharge are liquidated by a trustee. Sole proprietorships (and some kinds of partnerships) are able to claim and retain certain assets as exemptions. Nonexempt assets are liquidated by the trustee.
If you are an individual and are likely to lose valuable business assets under Chapter 7, and if your income is high enough, it may be advisable to file Chapter 13 instead, which lets you continue operating your business after you've declared bankruptcy. Ms. Langston will review your circumstances with you to determine a best course of action for you and your business.
Contact A Small Business Bankruptcy Lawyer
Meet with Ms. Langston to learn how filing bankruptcy will affect you and your business, and which chapter of the federal Bankruptcy Code you should file. Submit a contact form online or call 972-233-3328.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.