Chapter 7 Debt Liquidation

Broward County Small Business Chapter 7 Bankruptcy Lawyers

Businessman is calculating a budget and analysing a situation of debt liquidation

Debt Liquidation Attorneys for Small Business in Fort Lauderdale, Sunrise, Davie, Plantation, Weston, Tamarac and surrounding areas

Business owners struggling to make good on their debts have the option of filing for chapter 7 bankruptcy, which can help to either save the business or to liquidate it. The manner in which chapter 7 business liquidation can help a business depends on the business structure. The best way to approach the situation is through legal representation.

Ft. Lauderdale Chapter 7 Business Liquidation Bankruptcy Attorney

As the liquidation chapter of the bankruptcy code, chapter 7 can be voluntarily filed with a U.S. bankruptcy court, or it can be brought about involuntarily through petition by creditors. While the liquidation of a business under chapter 7 seems simple, it’s quite complex and requires a response to strategic questions that are best handled by a bankruptcy attorney. Consulting with the Szabo Law Group gives business owners the benefit of a trusted law practice that has experience in dealing with business liquidation under chapter 7.

Chapter 7 Business Liquidation Overview

To have a case under chapter 7, the filer must have a place of business or property in the U.S. When a company’s management files for chapter 7, the act of filing automatically begins the process and require no bankruptcy court order. For involuntary filings, the creditor can only file if they have a portion of their claim that is unsecured.

When a company goes into chapter 7, a trustee is appointed. The trustee has full power of authority regarding the assets of the company. Creditors may choose to appoint a different trustee, who will be responsible for collect all asset information and distribute them based on the claims of the creditor(s).

Legal representation is important because there is an enduring liability issue, because businesses are not entitled to a discharge in chapter 7. For instance, when the case is closed and the company (should it remain afloat) goes on to pursue other business, the creditors can still recover what was owed to them.

Szabo Law Group is committed to assisting businesses through their financial obstacles. Aron Szabo personally meets with every client and spends time listening and understanding their particular circumstance. Szabo Law Group will all financial circumstances and provide a solution through chapter 7 bankruptcy, chapter 13 bankruptcy, chapter 11 bankruptcy, or another form of resolution. To schedule a free consultation, contact the Szabo Law Group today at (954) 210–6054.

Personalized attention is what you can expect when reaching out to us.
At Szabo Law Group you are not just a client you are our priority. Let us help you with your case.
The Szabo Law Group has two convenient locations: one in the heart of the leading international corporate park by Sawgrass Mall in Ft. Lauderdale, and the other on Hollywood Boulevard by the Hollywood City Clerk building in Hollywood, Florida.
address1391 Sawgrass Corporate Parkway, Ft. Lauderdale, FL 33323
address2321 Hollywood Blvd,
Hollywood, FL 33020
emailThis email address is being protected from spambots. You need JavaScript enabled to view it.

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Szabo Law Group, P.A. provides personal and small business bankruptcy, foreclosure and immigration representation to clients throughout Broward County including, but not limited to Coconut Creek, Coral Springs, Dania, Davie, Deerfield Beach, Fort Lauderdale, Margate, Plantation, Pompano Beach, Sunrise, Tamarac and Weston.
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