Owning a small business is part of the American dream. However, as many Wisconsin residents have learned, even a great business plan doesn’t necessarily equal financial success. Unfortunately, many small businesses experience financial problems because of factors out of their control.
When this happens and there is no possible solution in sight, small business owners may want to consider filing for bankruptcy protection before the situation gets worse. Filing for bankruptcy means putting a stop to creditor harassment and moving forward with life.
While Chapter 11 bankruptcy is most often associated with businesses, Chapter 7 or Chapter 13 bankruptcy are actually better options for many small businesses needing debt relief. This is especially true because the business’ financial problems often directly tied to the personal finances of the owner.
Our firm has been assisting local small businesses in bankruptcy proceedings for many years, and we help each client find the best solution for their unique needs. Sometimes this means filing for bankruptcy and closing a business; other times it means restructuring debt and planning for a brighter future.
No matter which path the business owner chooses for his or her business, we are there to help with every step of the way. We work extremely closely with our small business clients because we know how difficult and sensitive the matter can be.
To find out more about how we assist local small businesses facing financial trouble, please visit our Milwaukee Small Business Bankruptcy Attorneys page. We offer a free consolation and provide candid advice to all questions asked.