You probably will not lose your business. If you want to keep your business, we can usually find a way to do it.
Business assets are generally non-exempt – they can be used to pay off creditors. But there are ways to keep those assets.
- Your lawyer can develop a plan under Chapter 13 to pay for those assets you need for your business.
- A lot of problems can be fixed with bigger payments in the reorganization plan.
Decide what you need in order to keep your business and discuss it with your lawyer. We will work with you and the bankruptcy trustee to preserve those assets.
Your lawyer can explain how to preserve business assets in Chapter 13.
Bankruptcy works best when you emerge from the process stronger than you were. By planning well, you can keep your business. Contact us for an appointment. The first consultation is free.
