Small business owners have devoted a lot of their life to their company. The time and effort it takes to establishing a well-run business can be taxing and to watch it sink under a financial flood of bills and expenses is always disheartening.

If you are a small business owner and recognize the signs that you may be heading towards bankruptcy, it is important that you contact a Boca Raton bankruptcy lawyer as soon as possible who can help you discuss your case.

When a business no longer receives income that is sufficient enough to pay off their debts or money that they owe their lenders and creditors, most business owners will consider filing for bankruptcy. If you have a sole proprietorship of your business, your personal assets are at risk of being sold to help pay off the debts that have been created. In other forms of business such as partnerships and corporations, sometimes a creditor will enforce the declaration of bankruptcy and most of the owner's personal assets will be exempt from being liquidated to help fund the payback of loans.

Alan J. Fisher, PA Can Help You

When it comes to business and bankruptcy, choosing to file under Chapter 13 or Chapter 7 can be stressful. Under a Chapter 13, you may be granted a payment plan lasting three to five years, allowing your company to stay in business and try to gain a better financial foothold. If you choose to file under Chapter 7, you will have the assets of your business or personal assets liquidated to help pay back debts. You should never have to face this stressful time by yourself, and when you contact Alan J. Fisher, PA, you won't have to.

Call today to schedule a free case evaluation and to speak with a professional bankruptcy lawyer from our firm.