Business Bankruptcy
Helping businesses in South Florida reduce, eliminate, or reorganize their debts through industry-leading expertise.
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Florida Debt Relief | Business Options
Starting a business is a dream for many, but the reality of financial hardship can turn that dream into a nightmare. At LSS Law, we believe that bankruptcy does not signify failure, but rather a strategic step towards a brighter future. Let us guide you through the options available for Florida businesses seeking debt relief.
Bankruptcy Does Not Mean Failure
In the world of business, the term ‘bankruptcy’ often carries a stigma of defeat and finality. However, the truth is far from this common misconception. Bankruptcy is not the end of the road; it’s a financial tool designed to provide relief and a fresh start. At LSS Law, we’re committed to shifting the narrative and helping businesses understand the real meaning of bankruptcy.
Your Business Debt Relief Options
Chapter 7 Business
Chapter 7 bankruptcy, known as liquidation bankruptcy, offers the dissolution of your business and the discharge of unsecured debts. It allows for a fresh start by ending current operations and freeing you from past financial obligations.
Discharge of Unsecured Debts
Clears debts like loans and credit card balances.
Closure and Fresh Start
Ends current operations but offers a clean slate for future ventures.
Expert Guidance
LSS Law provides careful navigation through the bankruptcy process.
Chapter 7 Business
Chapter 7 bankruptcy, known as liquidation bankruptcy, offers the dissolution of your business and the discharge of unsecured debts. It allows for a fresh start by ending current operations and freeing you from past financial obligations.
Discharge of Unsecured Debts
Clears debts like loans and credit card balances.
Closure and Fresh Start
Ends current operations but offers a clean slate for future ventures.
Expert Guidance
LSS Law provides careful navigation through the bankruptcy process.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy, suitable for small businesses and individuals, allows debt restructuring while maintaining business operations. It offers a plan to repay creditors and the possibility of renegotiating terms or discharging certain debts.
Traditional Chapter 11
Comprehensive Reorganization
Full-scale restructuring for larger businesses.
Creditor Negotiations
Work with creditors to develop a viable repayment plan.
Retain Control
Management continues operating the business during the process.
Subchapter V
Streamlined Process
Simplified procedures for small businesses to reduce costs and time.
Trustee Appointment
A trustee is assigned to oversee the reorganization process.
Tailored Debt Repayment
Develop a repayment plan based on the business's disposable income.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy, suitable for small businesses and individuals, allows debt restructuring while maintaining business operations. It offers a plan to repay creditors and the possibility to renegotiate terms or discharge certain debts.
Traditional Chapter 11
Comprehensive Reorganization
Full-scale restructuring for larger businesses.
Creditor Negotiations
Work with creditors to develop a viable repayment plan.
Retain Control
Management continues operating the business during the process.
Subchapter V
Streamlined Process
Simplified procedures for small businesses to reduce costs and time.
Trustee Appointment
A trustee is assigned to oversee the reorganization process.
Tailored Debt Repayment
Develop a repayment plan based on the business's disposable income.
Small Business Reorganization Act of 2019
The Small Business Reorganization Act of 2019 simplifies bankruptcy for small businesses, making debt restructuring under Chapter 11 more accessible and affordable.
Simplified Bankruptcy Process
Easier and less costly for small businesses.
Debt Repayment While Operating
Continue business activities while repaying creditors.
Specialized Legal Assistance
LSS Law's expertise in the act's provisions.
Small Business Reorganization Act of 2019
The Small Business Reorganization Act of 2019 simplifies bankruptcy for small businesses, making debt restructuring under Chapter 11 more accessible and affordable.
Simplified Bankruptcy Process
Easier and less costly for small businesses.
Debt Repayment While Operating
Continue business activities while repaying creditors.
Specialized Legal Assistance
LSS Law's expertise in the act's provisions.
Assignment for the Benefit of Creditors (ABC)
ABC, a state-level alternative to bankruptcy, involves transferring assets to a trustee for liquidation to pay off creditors. It can be quicker and more private than bankruptcy, offering flexibility in certain cases.
Quick & Private Process
Faster and more discreet than federal bankruptcy.
Flexibility in Asset Liquidation
Potential options for handling company assets.
Guided Process
LSS Law ensures efficient handling of the ABC process.
Assignment for the Benefit of Creditors (ABC)
ABC, a state-level alternative to bankruptcy, involves transferring assets to a trustee for liquidation to pay off creditors. It can be quicker and more private than bankruptcy, offering flexibility in certain cases.
Quick & Private Process
Faster and more discreet than federal bankruptcy.
Flexibility in Asset Liquidation
Adaptability in handling company assets.
Guided Process
LSS Law ensures efficient handling of the ABC process.
Benefits of Debt Relief for Businesses
Regaining Financial Control
When debt becomes overwhelming, it feels like you’re no longer in the driver’s seat of your business. Our debt relief services can put you back in control. By exploring options like Chapter 11 bankruptcy or the Small Business Reorganization Act, we help you create a plan to manage your debts effectively. Regaining financial control means having the power to make decisions that are best for your business’s future, not just responding to creditors’ demands.
Preventing Business Closure
The thought of closing your business due to financial struggles is heart-wrenching. We understand that your business is more than just a source of income; it’s a passion and a dream. That’s why we’re dedicated to providing debt relief options that can prevent your business from shutting down. Whether it’s through restructuring under Chapter 11 or utilizing the Assignment for the Benefit of Creditors, we’ll work tirelessly to find a solution that keeps your doors open.
Reducing Stress and Liability
Dealing with business debt is not only a financial burden but also an emotional one. The stress of facing creditors and the fear of personal liability can be paralyzing. Our team at LSS Law offers a compassionate approach to debt relief, helping to reduce the weight on your shoulders. By taking proactive steps towards resolving your debts, we aim to minimize your stress and protect you from personal liability, allowing you to focus on what you do best—running your business.
Why Choose LSS Law for Your Business Debt Relief?
At LSS Law, we recognize the impact of financial burdens on your business and personal life, and we’re dedicated to alleviating this strain and paving the way for a brighter future. Our goal is to provide the best solutions for your debt relief needs with a team committed to professionalism and expertise.
Expertise in Bankruptcy Law
In-depth knowledge and guidance through the bankruptcy process.
Personalized Strategies
Tailored plans addressing each client's unique financial situation.
Compassionate Approach
Understanding and supportive in handling sensitive financial issues
Regain Financial Control
Aiding in preventing business closure and reducing debt-related stress.
Long-term Partnership
Standing by clients with expert legal support throughout their journey to financial stability.
Schedule Your Strategy Session Today
During a Strategy Session, we delve into the specifics of your case, exploring all avenues of debt relief and bankruptcy options. Our focus is on understanding your goals, challenges, and the specific hurdles you face. We combine this insight with our comprehensive knowledge of financial law to craft a strategy that aligns with your objectives.
