Bankruptcy For Toledo Businesses
If not handled properly the failure of a business can result in the owner being on the hook for business debts, severely damaging his or her personal finances for years or even decades after the business closes its doors. If your business is reaching the end of the line, it is in your best interest to discuss your options with an experienced attorney from Mockensturm, Ltd.
In Toledo, Ohio, and surrounding communities, we are well-known for our brand of personal service and the firepower of our staff. Led by a dual professional — an attorney who is also a CPA — we have the skills and resources to resolve the personal and business issues our clients face.
Avoiding Personal Liability
The key to protecting your personal finances is to avoid personal liability for the debts incurred by your business. Our firm will sit down with you to identify all your options, and then pursue a plan tailored to your needs. This usually involves winding down the business, paying off business debts if possible and then, if necessary, filing personal bankruptcy to protect personal finances from business creditors.
While we can handle Chapter 11 bankruptcy for business with the financial backing to restructure and stay open, most situations call for winding down the business and if necessary filing Chapter 7 bankruptcy in order to liquidate assets and achieve a fresh start.
Can You Afford Bankruptcy?
It may seem counterproductive to file for bankruptcy in order to protect your finances, but bankruptcy will offer you a fresh start and protect your personal assets from creditors seeking to recover after your business closes. With our experienced lawyers and CPAs on your side, you can put this chapter of your life behind you and move forward to a brighter future free from debt.
Contact us today to arrange a Initial Consultation with our Toledo business bankruptcy attorneys.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires the following notice: We are a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.