Business Bankruptcy Services In Illinois
All the hard work in the world cannot overcome tough economic times and changing markets. When you have invested significant energy and resources into building your business, it can be heartbreaking to realize that your debts have become unmanageable. Business bankruptcy gives you a way forward.
At Frankfort Law Group, we offer compassionate, reliable advocacy for business owners in distress. From our Frankfort office, we service Illinois clients in Kankakee, New Lenox, Matteson, Frankfort, Mokena, Joliet and throughout Will County.
What Are Your Business Bankruptcy Options?
Business bankruptcies have unique concerns. Unlike an individual bankruptcy, your business has the option of filing for:
- Chapter 7: This obligates you to liquidate your business assets and close your business.
- Chapter 11: This allows you to reorganize your business debts so that they are manageable and your business can regain profitability.
Unlike personal bankruptcy, all business bankruptcies require a partial or complete repayment of the company’s debts. In addition, your business can even be forced into bankruptcy through an involuntary petition if your creditors grow frustrated enough. Finally, you have to show, to the bankruptcy trustee’s satisfaction, that your business is still viable to qualify for Chapter 7
At Frankfort Law Group, our business bankruptcy lawyers can help you manage your relationship with your creditors during this time and help you understand what makes the most sense for your situation.
Do Not Let Your Business Continue To Struggle: Call Us To Discuss Solutions
If your company has been floundering under the weight of its debts, it is time to take action. A proactive approach to your financial issues can relieve an immense amount of stress and either allow you to move on to other ventures or regain your footing so that your business can become viable again.
Call Frankfort Law Group at 708-967-0819 or reach out to us online to schedule your initial consultation and see what we can do.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.