You’re interested in filing a bankruptcy for
your small business. Hi, I’m Andy Forman, and I’m a Consumer Business Bankruptcy lawyer,
and I can give you some advice in this topic. In order to file for bankruptcy relief, for
your small business,there are different chapters that are available, to a small business. The
first question or topic would be, What is the structure of your small business? Is it
a corporation? Is it an LLC? Is it a partnership? or is it a sole proprietor? Each one of those
have different constraints and requirements for filing. The next question would be, What’s
the purpose of filing? Is it involving a business closure? or is it a restructuring of the debt,
to weather this tough economy? The restructuring of debt, is typically done in the format of
a Chapter 13, Reorganizational Bankruptcy. Unfortunately, Chapter 13 is not available
to corporations and LLC’s, and other non-natural legal entities. It’s only available for individual
or natural persons, as the code provides, but again, you need to seek out competent
legal advice. When you’re filing for relief in bankruptcy for a small business, you need
to have legal counsel, who can guide you, tell you what the requirements and constraints
are, and you should do just fine. Again, my name is Andy Forman. Good luck.