Washington DC Small Business Bankruptcy Lawyer
Learn the Facts About Bankruptcy for Your Small Business
Over our 30 years of bankruptcy experience, we've seen that by the time most small business owners start to consider bankruptcy, it's usually too late to save the company. It's not too late to cut your losses and go to work to limit or avoid your personal liability, however.
To learn how Chapter 7 or Chapter 13 might make sense for your troubled business, contact a seasoned lawyer at the offices of Steven E. Mirsky, LLC, in Rockville, Frederick or Laurel. We've offered bankruptcy advice to small businesses in Maryland since 1977.
Call (866) 654-2003 or (301) 637-0412 to learn how bankruptcy can benefit you
In situation where a company has a strong chance of surviving intact in a Chapter 11 case, we'll be glad to help it through the reorganization process. More frequently, however, small business bankruptcy is an exercise in damage control. Our goal is to help you draw a sharp line under the liabilities of a troubled business, compromise as much debt as possible, and prevent business liabilities from coming home to you personally to the greatest extent possible.
Whether a Chapter 7 liquidation case or a Chapter 13 debt repayment plan makes best sense for you depends on your specific situation and your own goals. If you owe more than $900,000 in secured indebtedness, Chapter 13 won't be available. Chapter 13 makes best sense for self-employed contractors with relatively low levels of debt who can still count on a regular flow of income to fund a modest repayment plan.
We work to make sure that business debts are satisfied only from business assets to the greatest extent possible. If it's necessary to put you into Chapter 13 to protect you from liability on personal guaranties or tax obligations, we can handle both cases at the same time.
To learn more about our ability to represent your interests effectively in a small business bankruptcy, contact an attorney at any of the three offices of Steven E. Mirsky, LLC.
