Pelley Law Office LLP
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Plano Office
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214-733-1775
972-608-0335
903-813-4778

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Over 80 Years Of Combined Experience

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Small Franchisees and Bankruptcy

Many people have big ideas and a hopeful opportunity about starting a franchise such as a branch of a restaurant.  Maybe there is a large parent corporation, but the individual or husband and wife are offered a franchise and they take a chance.  Their very own restaurant to nourish, work their fingers to the bone, and watch grow.

Then the recession hit.  There are personal guarantees on SBA loans, personal assets that have been spent in order to try to make the business work, and often quite a bit of credit card and unsecured debt.  

It seems hopeless.  However, there is help.  Filing for protection under either Chapter 7 or Chapter 13 of the Bankruptcy Code can help good people who have experienced a failed business to obtain the relief they so desperately need.  Although debtors will be forced to undergo a Means Test analysis, most small business owners who are forced to shut the doors are able to pass the Means Test and file Chapter 7 Bankruptcy. 

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Office Locations

Plano office
Sherman office
Dallas office

Plano Office
1312 14th Street, Suite 100
Plano, Texas 75074

Phone: 972-608-0335
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Sherman Office
905 North Travis Street
Sherman, Texas 75090

Phone: 903-813-4778
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Dallas Office
6060 North Central Expressway, Suite 602
Dallas, Texas 75206

Phone: 214-733-1775
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