If you own or have owned a small business that is either in distress or has closed its doors, a personal bankruptcy might be the right solution to manage the debts associated with that business. If you have personally guaranteed any debt associated with the business such as a lease, credit card, or loan, the creditor will pursue you personally even if the business has no assets and has been closed. A personal bankruptcy may allow you to not only discharge your personal debts, but also the personal guarantee on your business debts.
Please call our office today to discuss whether filing a personal bankruptcy might be the best solution for you and your small business.
