Business Bankruptcy Attorneys in Fresno
Backed by Decades of In-Depth Legal Experience
If you are considering filing for bankruptcy for your California business, you should retain experienced representation as soon as possible. Every chapter of bankruptcy has its own distinct advantages and drawbacks, and a knowledgeable attorney can help you determine which type is best for your specific needs.
At Fear Waddell, P.C., our Fresno business bankruptcy attorneys have successfully handled more than 1,000 cases in 10 years, and we can assist you, too. Whether you are considering filing for Chapter 7, Chapter 11, or Chapter 13 bankruptcy, we can handle it. Our legal team works hard to provide you with strategic and creative solutions, and we can efficiently guide you every step of the way through the complex legal process.
Bankruptcy Options for Businesses
Filing for business bankruptcy does not necessarily mean your business has come to an end. For many business owners, bankruptcy provides a fresh start by resolving crippling financial problems. If you have incurred insurmountable debt trying to keep your company afloat, bankruptcy could provide the relief you need and deserve.
There are three main business bankruptcy options, including:
- Chapter 11: allows businesses to remain in operation and restructure their debt with more manageable payment terms
- Chapter 13: allows sole proprietors to restructure their debts and propose a payment plan
- Chapter 7: enables corporations, LLCs, and other business entities to close down and pay debts through asset liquidation
The best option for you depends on the structure of your business, whether you want to continue to operate the business, the value of your assets, and your level of debt. Our legal team can evaluate your situation and help you determine the most appropriate way forward.
Relief Options for Small Business Owners
In February of 2020, Chapter 11 bankruptcy received an update: Subchapter V. This path is exclusively available to small business owners because they haven’t traditionally benefited from Chapter 11 the way large corporations have. Subchapter V provides a streamlined, cost-effective means of restructuring debt, giving small business owners a greater opportunity to restore control over their finances and build strong foundations for their business’s future.
Through Subchapter V, you may be able to:
- Create your own repayment plan
- Get plan approval without a vote from creditors
- Cram-down certain types of debt
- Modify the mortgage of your principal residence (if used in connection with your business)
The benefits of Chapter 11 for small business owners are vast, but the requirements are stringent. Contact our team to see if you may qualify for this form of relief.
Call Today for Comprehensive Bankruptcy Advocacy
Fear Waddell, P.C. can handle all your business’ bankruptcy needs, regardless of the complexity of your situation. We understand how important these matters are to you and your business, which is why we will work relentlessly to help you achieve your goals. You can rely on us to protect your rights, advance your best interests, and guide you every step of the way.
Contact our firm today at (559) 418-3022 to set up a free initial consultation with one of our experienced business debt relief lawyers in Fresno. Once you hire our firm, we can begin creating a customized case strategy for your business.
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1,000+ Bankruptcy Case Filings
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