Business And Bankruptcy
April 3, 2019
George R. Belche helps people who are facing serious financial problems while working solely in the area of bankruptcy law. He is your Lawrenceville bankruptcy lawyer, and he will help you address your financial crisis effectively and with in-depth knowledge. He frequently gets asked about business bankruptcy. We want to discuss some details of bankruptcy law.
2018 saw a slower pace of business bankruptcies. However, 2018 hosted one of the biggest bankruptcies for Sears, a longstanding 125-year old business. Other businesses that filed for bankruptcy protection include David’s Bridal, Mattress Firm, Gumps, Brookstone, Rock Port, Nine West, The Walking Company, and Claire’s.
FAQs About Business Bankruptcy
How are business debt and consumer debt different?
Business debt is different because a profit-seeking business seeks it as opposed to consumer purchases.
Are business debt and consumer debt similar when filing for bankruptcy?
Filing for business bankruptcy tends to be a more complicated process than those being filed for an individual consumer.
What are some examples of business debt?
Types of business debt include a business loan, cost to lease office space, personal and business taxes.
Can a creditor force your business into bankruptcy?
A creditor can force your business into either Chapter 7 or Chapter 11 bankruptcy. A creditor would do this if your company has valuable assets and they are concerned about getting paid.
If you are looking for solutions to your personal or business debt, contact Gwinnett debt relief attorney, George R. Belche. His firm is dedicated to helping Georgians repair their finances and move forward in life.
George R. Belche, Attorney at Law
Lawrenceville, GA 30046