subject: Bankruptcy Lawyers In Seattle Help Struggling Businesses [print this page] If you have a business that is struggling in Seattle, bankruptcy lawyers may be able to provide you with solutions to help get your business back on track. While many people fear that bankruptcy has to mean the end of their business, the reality is that bankruptcy lawyers Seattle may have options for you that can allow you to restructure your debt and keep your doors open.
Can a Business Operate in Bankruptcy
Businesses fail for many reasons but one of the main problems that may plague a business is bad debt. If you enter into contracts that turn out to be a bad deal, if you have an investment property that significantly declines in value or if you borrow money at too high of an interest rate, this can make it impossible for your business to become profitable even if you have a solid product and a good customer base.
Fortunately, there is a solution for businesses that have a viable business model and that just need some help in fixing their debt problems. Bankruptcy lawyers Seattle can provide assistance by helping your business to file bankruptcy. Many major businesses, including Hostess, have filed for bankruptcy and continued to operate, emerging from their bankruptcies more profitable than ever. You, too, can take advantage of the options available under the bankruptcy code with the help of Seattle bankruptcy lawyers.
While certain types of bankruptcy will mean that you need to close the doors of your business, some bankruptcies are specifically designed to let a business keep running. This is the type of bankruptcy that companies like Hostess take advantage of and the type of bankruptcy that bankruptcy lawyers Seattle can help you to consider.
Options for Business
Your options for business bankruptcy are going to depend on how your business is structured and on the size of the business you are operating. If you have a large business, especially one that is a separate legal entity from you, then you may be able to file under chapter 11 protection. This type of protection is the kind of bankruptcy that Hostess and other huge companies tend to file. Chapter 11 lets you get out of contracts if you choose to do so, and lets you restructure the debts of your business. You may be able to sell off certain assets while keeping others, and you may be able to completely eliminate certain legal obligations while continuing to operate a functioning business.
Chapter 11 is the most complicated option for business bankruptcy, and you"ll need to have bankruptcy lawyers Seattle advising you on whether this bankruptcy is right for you as well as on how to handle your bankruptcy filing. Bankruptcy lawyers Seattle can also assist you in exploring other alternatives if it turns out that Chapter 11 is not the best choice for your business.
