Personal Injury Lawyer | Bankruptcy Lawyer | Fakhoury Law

Home / Business Bankruptcy

Navigate Business Bankruptcy with Expert Guidance From a Business Bankruptcy Attorney

As a business owner, you likely know that the idea of filing bankruptcy on behalf of your
company can sound like one of the most daunting and overwhelming possibilities of your career.
However, for a wide array of reasons, business bankruptcy is a reality for many companies, both
small and large.

Whether you’ve come face-to-face with unforeseen circumstances, the economic downturn has
challenged your ability to stay open, or your company is experiencing consequences stemming
from financial mismanagement, the decision to file for bankruptcy is not one that any business
owner should take lightly. Instead of weighing the pros and cons of such a significant decision
on your own, why not reach out to legal representation for expert guidance?

Let Michael A. Fakhoury Be Your Trusted Partner in Business
Bankruptcy Cases

Located in Fishkill, NY, and serving Dutchess County, the Law Firm of Michael A. Fakhoury is a
trusted name in business bankruptcy law. With years of experience paired with a proven track
record of success, Michael A. Fakhoury is a dedicated attorney who is committed to providing
personalized attention and unwavering support to each of his business bankruptcy clients.

For more insight into how Michael A. Fakhoury can assist you, look for a business bankruptcy
 attorney near me to see if he is local to your area. With the Law Firm of Michael A. Fakhoury,
you can obtain legal advice from bankruptcy lawyers who understand the many complexities of
all kinds of bankruptcy cases.

From communicating on your behalf with unsecured creditors to dissecting the United States
Bankruptcy Code for you, Michael A. Fakhoury can also help you establish a plan of
reorganization and tackle the corporate restructuring of financial affairs. The bankruptcy process
is far more manageable with the right bankruptcy lawyers by your side.

Frequently Asked Questions

What is Business Bankruptcy?

Business bankruptcy is a legal process that makes it possible for businesses to reorganize or
discharge debts. The end goal of filing for business bankruptcy is to seek relief from financial
pressure. That way, business owners can pay back what they owe without having to close down entirely due to the weight of their debt.

What Are The Different Types of Business Bankruptcy?

There are two different types of business bankruptcy, including Chapter 7 and Chapter 11
bankruptcy cases. More specifically, Chapter 7 bankruptcy involves the liquidation of assets to pay off debts, meaning any assets in your business’ name can be retrieved and accepted as collateral in exchange for payment towards your debt. On the other hand, a Chapter 11 case results in the reorganization of your debts, leaving you with a plan for repaying what you owe while continuing to stay in business.

Will Filing For Bankruptcy Mean the End of My Business?

Bankruptcy does not necessarily denote the closure of a business. In fact, bankruptcy can be an opportunity for business owners to restructure their debts, renegotiate their contracts, and emerge stronger, not to mention more financially stable, than ever before.

What Are the Consequences of Filing for Business Bankruptcy?

While business bankruptcy can be incredibly beneficial, the process can also yield various
consequences. For starters, business bankruptcy may result in a drop of the business’ credit
score. Business owners might have to part ways with certain assets, and there could be a few
limitations placed on the business when it comes to borrowing from lenders in the future. In
some cases, the decision to file for business bankruptcy could result in the closure of the
business or changes in ownership and management of said business.

When Should a Business Owner Consider Filing For Bankruptcy?

A business owner should consider filing for bankruptcy when he or she is unable to pay his or
her business-related debts when they are due. It’s also wise to look at bankruptcy as a viable
option when you are facing imminent threats of creditor actions, including lawsuits, foreclosures, or wage garnishments. Another scenario in which bankruptcy is an option is when a business owner cannot negotiate favorable repayment terms with his or her creditors other than bankruptcy.

Reach Out Today To Explore Your Business Bankruptcy Options!

Is your business facing financial difficulties that you do not know how to navigate on your own?
Have you started considering bankruptcy as an option for your business? If so, you could be
eligible for a free consultation with the Law Firm of Michael A. Fakhoury.

Those of you who are searching for a business bankruptcy attorney near me and operate
your business in either Dutchess County or Fishkill, NY, should contact us now to schedule your
free consultation! Don’t let financial hardships threaten the future of your business. Instead, let
the Law Firm of Michael A. Fakhoury help safeguard your business, both now and in the future.

Bankruptcy Services

Consumer Bankruptcy

Business Bankruptcy

Debt Relief

Creditor’s Rights

Bankruptcy Litigation

Foreclosure Defense

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Contact Us Today

No Fees Until We win

Please enable JavaScript in your browser to complete this form.