• Free Bankruptcy

    Evaluation

    Start on the road to financial freedom; contact us today for a free evaluation.

    Start Now
  • Read What Our

    Clients Are Saying

    Our results speak for themselves; see what our clients are saying.

    Read More
  • Seven Convenient

    Locations

    We have many locations to serve you, click here to find your nearest location.

    Contact Us
  • Meet Our

    Team

    Our team has 30+ years of experience. Get an experienced team on your side.

    Click Here

Bankruptcy Options for Small Business Owners

Since everyone’s financial situation is unique, it’s best to consult a bankruptcy lawyer regarding your specific options. In general, however, small business owners may file for Chapter 11 bankruptcy for business entities or personal bankruptcies. Whether you should file for personal or a business entity depends largely on the amount of debt you owe. Chapter 11 bankruptcy enables you to restructure your debt, which will allow you to continue to operate your small business while you pay back your creditors under a court-approved plan.

bankruptcy word write on paper

If you are a sole proprietor, a better option may be to file for Chapter 13 bankruptcy. This enables you to eliminate your personal liability for your small business’ debts. Small business owners who run a corporation, limited liability company, or partnership may be eligible to file for Chapter 7 bankruptcy. This option may be ideal for you if you wish to shut down your business entirely, liquidate its assets, and discharge the debt.

The bankruptcy attorneys of Cutler & Associates, Ltd. can help you sort through your bankruptcy options and choose the one that best fits your needs. Small business owners throughout Aurora and Schaumburg are welcome to contact us at (847) 505-0380 to arrange a consultation.

FREE Bankruptcy Evaluation

Fill out the form below and one of our experienced attorneys will get in touch with you immediately.