Riverside, Long Beach, and Los Angeles Business Bankruptcy
The bankruptcy lawyers at The Law Offices of Todd B. Becker would like to explain the various factors to consider before you file a Los Angeles, Long Beach, or Riverside business bankruptcy.
Business Bankruptcy in Los Angeles, Long Beach, and Riverside - Weigh Your Options Carefully
At The Law Offices of Todd B. Becker, we understand that the current business climate is difficult, especially for small businesses. Your bills and debts may be rising, and you may be facing the possibility of going out of business or losing your lease or mortgage. Business bankruptcy in Riverside, Los Angeles, or Long Beach may seem like the best, perhaps only option. However, there are important reasons to consult with an attorney with expertise in business and bankruptcy laws before making any final decisions.
Declaring bankruptcy comes with consequences. It stays on your credit report for at least seven -- and up to ten -- years. It can limit your future ability to obtain a business loan, lease, mortgage, line of credit, or financing. Chapter 7 bankruptcies for businesses require that you sell off valuable assets, plus businesses that declare Chapter 7 bankruptcy typically cease to operate, unless the court-appointed Trustee chooses to continue the business. Even with a Chapter 11 declaration which usually allows a business to continue operations, forced reorganization of your business structure and required adherence to repayment plans can make doing business a complicated and painful experience.
Riverside and LA Businesses Have Other Choices
The experienced attorneys at The Law Offices of Todd B. Becker can explain bankruptcy alternatives that might be available to you. Additionally, we can help you evaluate which, if any, alternatives would be appropriate for your business situation. The Riverside and Los Angeles Law Offices of Todd B. Becker have over 20 years of experience assisting businesses with identifying alternatives to filing either Chapter 7 or Chapter 11 bankruptcy. By providing personal attention and customized representation, we can ensure that we are meeting your company’s particular needs. We will help you protect your assets, handle creditors, and remain in operation throughout this difficult financial period.
