A business bankruptcy can be either a “reorganization” or a “liquidation.”
In a reorganization, you submit a plan to pay your old debts over time, while you continue to run your business. In a liquidation, your trustee will take possession of your business assets and sell them for the benefit of your creditors.
A business bankruptcy can be very simple, or incredibly complicated, depending on the size of the business, type of debt, and other factors. It is best to call us for more information, because these cases tend to be very specific to the exact circumstances.
If your business is in trouble, call our office at (978) 741-4320 for a free, confidential consultation.Common Bankruptcy FAQs
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