Business Bankruptcy Attorneys in Burlington County, NJ
Free Consultation with Experienced Business Bankruptcy Lawyers in New Jersey and Pennsylvania
Many small business owners are still dealing with the after effects of a financial crisis that crippled the economy and caused significant problems for companies throughout New Jersey and Pennsylvania. Sometimes the best way for a small business owner to get through financial difficulties is to explore bankruptcy and get a fresh start.
Business bankruptcy options like Chapter 11 can potentially allow you to avoid closing down a business that you know will be able to thrive if you can just get a little more time to turn things around.
If you are a small business owner struggling with debt, the knowledgeable bankruptcy attorneys at McDowell Posternock Apell & Detrick, PC can assist you and protect your business. Our bankruptcy lawyers have decades of combined experience helping businesses and individuals with debt relief options and bankruptcy filings in New Jersey and Pennsylvania. We can help you come up with a manageable repayment plan that enables you to pay off your creditors. Contact us now to discuss your situation with a member of our legal team.
Explore Chapter 11 and Other Bankruptcy Options for Your Business in NJ or PA
If you are struggling to keep your New Jersey or Pennsylvania business going because you are feeling the stress of mounting debt, it may be in your best interests to file for Chapter 11 bankruptcy and seek a discharge of your business-related debts. Depending on your unique circumstances, you may qualify for reorganization under Chapter 11.
Chapter 11, also known as “reorganization bankruptcy,” gives small business owners the chance to reorganize their debts and work out a plan to keep creditors happy while also allowing the business to remain operational. If you are a small business owner who just needs a little time to figure things out as you keep the business running, Chapter 11 bankruptcy is a potentially quite a beneficial option for you.
On the other hand, if you intend to go out of business, then filing for Chapter 11 can help you effectively liquidate your debts and quickly move on to bigger and better things with your life.
To get an idea of your potential options and to learn more about what a Chapter 11 bankruptcy filing might mean for you and your small business, take a look at the following pages:
- Chapter 11: Chapter 11 bankruptcy is a commercial bankruptcy option typically utilized by small business owners looking to restructure their debts and avoid shutting down the company.
- Chapter 7: A sole proprietor may have the option of filing for Chapter 7 bankruptcy and discharging both personal and business debts.
- Chapter 13: Although only individuals are permitted to file for Chapter 13 bankruptcy, sole proprietors can potentially utilize Chapter 13 to arrange a repayment plan while protecting their business assets.
- Bankruptcy and Business Taxes: Small business owners who fall behind on their quarterly tax requirements due to financial struggles may be able to get extra time to pay off the IRS and meet their tax obligations.
- Business Bankruptcy and Alternatives: Financially distressed businesses may have alternatives to filing for bankruptcy, including dealing directly with creditors or liquidating the business.
- Bankruptcy FAQ: For detailed information about the bankruptcy process in NJ and PA, check out our FAQ page, which provides answers to frequently asked questions about bankruptcy.
Contact Knowledgeable South Jersey Business Bankruptcy Lawyers to Explore Your Legal Options
There is no such thing as “acting too early” when it comes to bankruptcy or debt management consultations. If there is even a hint of financial problems with your business, it can’t hurt to talk things over with a qualified NJ bankruptcy attorney.
The skilled bankruptcy lawyers at McDowell Posternock Apell & Detrick, PC are prepared to help you explore your legal options and take care of your financial obligations in a way that benefits you. Our legal team will be with you every step of the way and assist you throughout the bankruptcy process so that the company you worked so hard to build and maintain doesn’t have to close its doors.
Contact us today to speak with one of our qualified bankruptcy attorneys over the phone or schedule a face-to-face meeting at one of our conveniently located offices in Moorestown, Browns Mills, Maple Shade or Philadelphia.