Help for RI Small Businesses and Small Business Owners
Are you a Sole Proprietor or Operating Under Your Own Name (DBA)?
DBAs and sole proprietors may be able to receive relief from their debts via Chapter 13 bankruptcy or Chapter 7 bankruptcy while continuing to operate their business. Corporations, LLCs, and similar entities cannot file for chapter 13, but there are still many options available for these business owners.
Balancing the Needs of the Individual and the Company
There is basically no such thing as a simple bankruptcy, and the complexity only increases when business owners and their businesses are involved. I’m committed to learning the specific details of your situation and helping you craft an optimal strategy for navigating your individual and business-side financial difficulties. With respect to your individual or personal debt, once you have engaged an attorney, all harassing phone calls and mailings from your creditors must stop immediately in adherence to The Fair Debt Collection Practices law. This applies to a variety of debt problems including mortgage foreclosures, wage garnishments, credit card debt and more. The Fair Debt Collection Practices law does not, however, protect your business from any collection activities.
The list of potential complications small business owners face during bankruptcy is long, and experience, attention to detail, along with sound strategic thinking skills are required to successfully navigate the bankruptcy process.