{"id":437,"date":"2022-12-08T13:09:09","date_gmt":"2022-12-08T13:09:09","guid":{"rendered":"https:\/\/www.brandonlawyer.com\/?page_id=437"},"modified":"2022-12-14T10:03:20","modified_gmt":"2022-12-14T10:03:20","slug":"chapter-7-for-small-businesses","status":"publish","type":"page","link":"https:\/\/www.brandonlawyer.com\/debt-solutions\/bankruptcy\/chapter-7-for-small-businesses","title":{"rendered":"Chapter 7 for Small Businesses"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"437\" class=\"elementor elementor-437\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9839bed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9839bed\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ec96148\" data-id=\"ec96148\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-906cdec elementor-widget elementor-widget-text-editor\" data-id=\"906cdec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h1>Brandon Small Business Bankruptcy Lawyer<\/h1><h3>Small Business Bankruptcy Chapter 7 in Hillsborough County<\/h3><h4>Can a Business File for Chapter 7?<\/h4><p>If you own and run a small business and have fallen into serious debt, it may be wise to file for Chapter 7 bankruptcy and\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/debt-solutions\/debt-relief\/debt-discharge\/the-chapter-7-discharge\/\">discharge<\/a>\u00a0all of those expenses. Owners of small businesses often have their personal assets tied to their business property. When debt becomes too great, and the business income cannot keep up with payments to creditors,\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/debt-solutions\/bankruptcy\/chapter-7-bankruptcy\/\">Chapter 7 bankruptcy<\/a>\u00a0may be a viable solution.<\/p><p>Some business owners choose Chapter 7 bankruptcy if their businesses have assets that can be liquidated. If the business does not have assets, then the owner may be able to file under Chapter 7 and avoid creditors taking action against the individual owner. However, if you do not have assets to liquidate, it may be wiser to let the corporation end by not filing for corporate status.<\/p><p class=\"text-highlight v2 bg-box bordered side-padding-medium vertical-padding-tiny\"><strong>Considering small business bankruptcy Chapter 7? Contact\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/\">The Golden Law Group<\/a>\u00a0at\u00a0(813) 680-3830\u00a0or complete\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/contact-us\/\">our form<\/a>\u00a0for free consultation with our small business bankruptcy lawyers in Brandon. We also serve clients in\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/tampa-bankruptcy\/\">Tampa<\/a>.<\/strong><\/p><h3>When Should I File for Business Chapter 7?<\/h3><p>At The\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/firm-overview\/\">Golden Law Group<\/a>, we often advise business owners that they\u00a0<strong>don&#8217;t\u00a0<\/strong>file for Chapter 7 for their business entity. If the business has\u00a0<strong>insignificant assets<\/strong>\u00a0and is no longer a viable business entity, it may be the best solution to simply let the corporation die by not renewing its corporate status. If the business has\u00a0<strong>assets that can be liquidated<\/strong>, however, it is probably best to file for Chapter 7, to ensure that creditors cannot take action against the individual owner. If you have commingled your personal assets with your business entity, it may be best to file simultaneous Chapter 7 bankruptcies for yourself and your business.<\/p><p>Our firm can help you to do this in an efficient manner. You can save a lot of time by filing for these bankruptcies at the same time. By filing simultaneously, you won&#8217;t necessarily reduce your filing fees and attorney costs, but you will save a\u00a0<strong>significant\u00a0<\/strong>amount of time by having the two bankruptcies confirmed in the same time frame, rather than consecutively.<\/p><h3>Benefits of Small Business Bankruptcy Chapter 7<\/h3><p>The benefits of small business bankruptcy Chapter 7 is different depending on how you file. If you are a sole proprietor, it will allow you to wipe out your personal\u00a0<strong>and\u00a0<\/strong>business debts in one case. If your business debt is more than your personal debt, you do not have to meet the requirements based on the\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/media\/videos\/what-is-the-means-test-\/\">means test<\/a>.<\/p><h3>Call Our Small Business Bankruptcy Lawyer in Brandon<\/h3><p>Learn more about small business bankruptcy Chapter 7, call an experienced\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/tampa-bankruptcy\/chapter-7-bankruptcy\/\">Tampa chapter 7 bankruptcy attorney<\/a>\u00a0at The Golden Law Group. We are ready to answer all of your questions about bankruptcy,\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/debt-solutions\/debt-relief\/debt-discharge\/\">debt\u00a0<\/a>relief and illegal\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/debt-solutions\/debt-collection\/\">collections<\/a>\u00a0practices. From convenient office locations, we represent small business owners in bankruptcy matters in Brandon, Tampa,\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/debt-solutions\/bankruptcy\/\">Sarasota<\/a>, and communities throughout the Florida Gulf Coast region. If you are over your head in debt and don&#8217;t know where to turn for relief, turn to us.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f164f74 garnish-pg elementor-widget elementor-widget-text-editor\" data-id=\"f164f74\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong><a href=\"https:\/\/www.brandonlawyer.com\/contact-us\/\">Contact us<\/a>\u00a0or call\u00a0(813) 680-3830\u00a0for a free, no-obligation consultation with a Brandon\u00a0<a href=\"https:\/\/www.brandonlawyer.com\/debt-solutions\/bankruptcy\/\">bankruptcy<\/a>\u00a0lawyer.\u00a0We also serve those in Tampa<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Brandon Small Business Bankruptcy Lawyer Small Business Bankruptcy Chapter 7 in Hillsborough County Can a Business File for Chapter 7? If you own and run a small business and have fallen into serious debt, it may be wise to file for Chapter 7 bankruptcy and\u00a0discharge\u00a0all of those expenses. Owners of small businesses often have their [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":103,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/pages\/437"}],"collection":[{"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/comments?post=437"}],"version-history":[{"count":8,"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/pages\/437\/revisions"}],"predecessor-version":[{"id":2815,"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/pages\/437\/revisions\/2815"}],"up":[{"embeddable":true,"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/pages\/103"}],"wp:attachment":[{"href":"https:\/\/www.brandonlawyer.com\/wp-json\/wp\/v2\/media?parent=437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}