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Is your business facing financial strain? you have options.

When your business is experiencing financial difficulties you may be unsure of what to do or where to turn. At The Law Offices of David K. Blazek, P.C. we're here to assure you that you have options, and financial stability is within reach. Bankruptcy is one of those options.

When determining which kind of bankruptcy is right for your business, you have to take into account what each involves. Chapter 7 bankruptcy, in regards to businesses, involves liquidation. If the debt that your business is facing has become insurmountable, so much so that reorganization is not an option, then Chapter 7 may be the right choice. Additionally, if your business does not have substantial assets, which can be a common issue in sole proprietorships, liquidation may be appropriate.

If Chapter 7 bankruptcy doesn't fit your business's needs, consider Chapter 11. This form of bankruptcy involves reorganization and is a good fit for businesses with a viable chance of overcoming their financial issues. As of February 20, 2020, subchapter V of Chapter 11 bankruptcy was enacted, which was created specifically to help small businesses reorganize in a more efficient and effective manner. This should reduce the financial strain that Chapter 11 can possibly have on small businesses.

If you want to learn more about how to resolve your business's financial issues through Chapter 7 or Chapter 11 bankruptcy, or you're a small business interested in subchapter V, schedule a free virtual consultation with our firm based in Tampa, Florida.


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Consumer Bankruptcy can
get you back on track

Debt can quickly derail your life. If it feels as though you are out of options, you may want to consider bankruptcy as a viable next step. While it may seem like filing for bankruptcy is synonymous with failure, that couldn't be further from the truth. Bankruptcy is an excellent path to take on the road toward financial stability, and it can help you achieve your financial goals.

As a consumer, you have two options: Chapter 7 and Chapter 13. Chapter 7 bankruptcy requires that you liquidate your assets to eliminate your debts. This form of bankruptcy is usually a good fit for individuals with an income that falls below the median in your state.

Chapter 13 bankruptcy involves a repayment plan. You will repay your debt through a three-to-five-year plan. Chapter 13 may be best for you if you are in a position where you can, and want, to keep your assets and if your income is above the median in your state.

Determining whether or not bankruptcy is right for you can be a difficult decision. Working with an experienced attorney can help. Set up a consultation with our team today in Tampa, Florida. We serve the areas of Miami, Jacksonville, and Orlando, as well as Atlanta, Macon, and Columbus, Georgia. If you are located elsewhere, we are available to serve you virtually.