These Are Tough Times for North Texas Businesses
Today's economy is difficult for both small businesses and families. Many times, bankruptcy is the only option for dealing with overwhelming business debt, lawsuits and unpaid SBA loans.
At Pelley Law Office L.L.P., we help business owners in North Texas discharge unwanted business debt through bankruptcy. In many cases, our clients have personally guaranteed the debts of a corporation, making it necessary to file a personal bankruptcy as well. A business that does not work can be both frustrating and stressful. But, we can put an end to the bleeding. In over 35 years of practice, our lawyers have helped thousands of clients navigate the process and get a fresh start to get their futures back on the right paths.
What Kind of Bankruptcy Is Right for Your Business?
Sometimes, people think about Chapter 11 bankruptcy when they think about closing down their business. That is a very common misconception. Chapter 11 is an option for businesses that are still viable and foresee profit in the future but have an overwhelming amount of debt holding them back from success. Chapter 11 is very complex, very difficult, very time consuming and extremely expensive. Chapter 11 is probably not the best option for businesses that have been hit hard by the recession and need to be closed.
Filing business bankruptcy under Chapter 7 is often the quickest, easiest, and cheapest way to close down a business. Going through the Secretary of State and winding up your corporation, be that an S Corp., an L.L.C., a P.C. or any other form of corporation can be very time-consuming and expensive. In addition, you cannot wind up a corporation that has outstanding corporate debt.
Client Testimonial: Just a brief note to tell you how appreciative I am of how effective you were in my bankruptcy proceedings. I was never worried because I knew I was being represented by the best. Thank you! — F. B.
Dallas, TX Chapter 11 Lawyers
We invite you to call Pelley Law Office, L.L.P. at 972-608-0335 or 903-813-4778 to schedule a free confidential consultation with an experienced bankruptcy attorney. You can also contact us by e-mail now to request an appointment.
Questions? Feel free to visit our Bankruptcy FAQs. To learn how we have helped clients in North Texas deal with overwhelming debt and other legal problems, please view our Client Testimonials.
