Small Business Bankruptcy
SERVING PORTLAND OR – BEAVERTON – BEND – GRESHAM OREGON
Financial hardships can place an enormous strain on small business, and may even require bankruptcy filing. Small business bankruptcy is always a difficult decision, but it could be in the best interest of your small business. If your company is drowning in debt, with no sign of relief, consulting a seasoned small business bankruptcy attorney is the best option to move forward financially.
Filing for Small Business Bankruptcy in Oregon
Before you file for small bankruptcy, there are some details you should carefully consider:
- The courts will need your complete financial information including assets, debts, expenses, and income.
- As the business owner, you will be required to take debt counseling and debt management courses. They typically take less than two hours each.
- You may be harassed by debt collectors, and there may be wage garnishments as well.
Filing for small business bankruptcy does not necessarily mean the end of your small business. Business bankruptcy in Oregon can help you restructure your finances and get you back on track, all while keeping the doors open. Filing for bankruptcy and completing the process also typically means the end of debt collector harassment and wage garnishment.
Chapter 11 and Chapter 13 Business Bankruptcy in Oregon
The two most common bankruptcy options for small businesses are Chapter 11 and Chapter 13.
Chapter 11 Bankruptcy:
- Businesses of any size or composition can apply.
- There are no debt limitations to the bankruptcy itself.
Chapter 13 Bankruptcy:
- Less expensive to file than Chapter 11.
- Only available to small businesses with sole proprietorship.
- No debt limitations.
Does Your Small Business Need A Small Business Bankruptcy Attorney?
For trusted advice from an experienced small business bankruptcy attorney, call the Law Offices of George Hoselton today. It is important you know your options, so you can preserve your business and get your finances on the right track. Attorney George Hoselton can employ creative and practical solutions so your small business can sustain itself for many years to come.
Small Business Bankruptcy in Portland, Beaverton, and Bend OR
Serving Clients in Portland - Beaverton - Bend OR