Small Business Bankruptcy Attorneys in Los Angeles

Learn More About Your Chapter 7, 11 & 13 Bankruptcy Options

Small businesses are the heart and soul of the American economy. Small businesses employ many people throughout the country and offer all types of goods and services, touching every kind of industry. However, small businesses have been some of the hardest-hit victims in the recent economic downturn. At Resnik Hayes Moradi LLP, our Los Angeles small business bankruptcy lawyers are committed to helping small businesses through these troubling times. We understand the needs and concerns when small businesses need legal help, especially bankruptcy and debt relief counsel.

In certain situations, a small business can greatly benefit from filing for bankruptcy. Contrary to what you might believe, filing for bankruptcy does not mean the end of the company’s life. Often, by filing for small business bankruptcy, this gives you time to reorganize and retain vital assets. This includes keeping and maintaining the stream of income to keep the business open while consolidating any debt. You can even stop an IRS garnishment or bank levy.

To discuss your small business debt relief options during a 30-minute risk-free consultation, contact us today. We are here to help.

Can Bankruptcy Save Your Business?

Resnik Hayes Moradi LLP represents a wide range of businesses in bankruptcy proceedings, including sole proprietorships, limited liability companies (LLCs), and partnerships. Your debt problems are unique, and our attorneys will work with you to craft a legal strategy that suits your unique needs.

We can help you explore all of the debt relief options available to you, including:

• Small business Chapter 7 bankruptcy: Filing for Chapter 7 bankruptcy liquidates business assets to pay off creditors, and generally marks the end of a business. A trustee will be appointed to take over the liquidation process, relieving you of the responsibility of dealing with your creditors.

• Small business Chapter 13 bankruptcy: Chapter 13 bankruptcy can protect you from eviction, IRS collections, and other creditor actions while giving you time to get your business back on a stable footing. You get to keep running the operation of the business with the regular income still intact with the added benefit of just one payment to the Chapter 13 Trustee. The Chapter 13 reorganization is substantially more cost-effective than the standard Chapter 11.

• Chapter 11 bankruptcy: This business-specific bankruptcy option can help to legally shield you from personal and professional creditors, obtain an injunction to prevent foreclosure, seizure, or forfeiture proceedings, and protect current assets and future earnings. We can also work with you to discharge certain IRS debts and develop and maintain a budget while avoiding layoffs and keeping vendor relationships intact.

We understand that not every business would best be served by filing for bankruptcy. We can help you understand what other debt relief options might fit your situation and help you execute them appropriately. We look at every situation on a case-by-case basis and strongly believe in custom tailoring a solution that best fits your needs.

Do You Need a Bankruptcy Attorney for Small Businesses Restructuring?

Chapter 11 bankruptcy is generally for large corporations and is seldom advisable for small businesses. Whatever debt problems your business is facing, our small business bankruptcy lawyers in Los Angeles will work to help you achieve your legal goals.

For a 30-minute risk-free consultation about filing for bankruptcy with Resnik Hayes Moradi LLP, call us at (213) 344-0043 today. Our offices are open weekdays from 7 a.m. to 7 p.m., and we serve clients in the Los Angeles area and San Fernando Valley through offices in Sherman Oaks and Los Angeles.