Chapter 7 Business Bankruptcy Attorney | Thomas W. Lynch & Associates P.C.

We are a debt relief agency.

We assist people and businesses file bankruptcy cases.

Business Chapter 7 is generally used for putting an end to a business that is no longer generating enough income to service its debts or otherwise meet the needs of the owners. A Business Chapter 7 allows a business owner to move on with his or her life by stopping creditor harassment, reducing the likelihood of future litigation and generally freeing up a business owner to pursue other opportunities.

If a Business owner has guaranteed, co-signed or otherwise assumed personal liability for business debt, a Business Chapter 7 can be used in combination with other legal options, including in combination with one of the types of Individual Bankruptcy, to allow business owners to put the financial and emotional distress of an unsuccessful business behind them.

Business Chapter 7 Bankruptcy can involve a considerable amount of planning. For example, under certain conditions, if there are assets in a business, it may be appropriate for the business owner to sell or otherwise liquidate the assets prior to filing bankruptcy to pay tax debt or other debt which, if left unpaid, would be pursued against the business owner personally after bankruptcy. Liquidating business assets in this manner allows a business owner to retain oversight authority over the sales. The business owners may be best situated to sell business assets in a manner which assures the highest sales prices. The business owners can then see that the sales proceeds are used most effectively to minimize debt and not depleted by high bankruptcy administration fees. Opportunities to settle debts for less than their full amount may be also be most readily available outside of bankruptcy.

There are a large number of other items which can complicate a Business Chapter 7 filing. If the business owner or a similar party owes the business money when the business files bankruptcy, if the business owner has made notable withdrawals from the business in the recent past or if the owner transferred assets from the business, issues exist which at a minimum, could effect the timing of a bankruptcy and which may call into question whether the Bankruptcy Court will even be the the appropriate forum to resolve the matter.

Filing any type of Bankruptcy for a Business is a fairly complex endeavor. The best way to determine what approaches will work best for you in handling your business debt is to have a face to face meeting with a trained Bankruptcy Attorney. Whenever you are ready to do so you can ARRANGE FOR A FREE, CONFIDENTIAL, NO OBLIGATION CONSULTATION with a member of our staff.

Our experienced bankruptcy staff has helped guide over THREE THOUSAND (3,000) individuals and businesses through the difficult and stressful process of filing bankruptcy. We have also helped thousands of others evaluate non bankruptcy alternatives and we have helped many other in dealing with their debt outside of bankruptcy. We can help you.

Our Rates are considered reasonable and we work with our clients on payments.

We also maintain convenient evening and some Saturday hours for the convenience of our clients and we have a convenient southwest suburban location near a number of expressway exits.

The Law Offices of Thomas W. Lynch & Associates, P.C.
9231 S. Roberts Road
Hickory Hills, IL 60457
TEL: (708) 598-5999 – FAX: (708) 598-6299
E-Mail: info@thomaswlynchpc.com

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