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Am I Liable For My Bankrupt Business’ Debt?
As an owner of an LLC or corporation, you are most likely not obligated to pay your business’ debt. This is why many entrepreneurs choose these entities for their business structure; these structures safeguard personal assets and property in the event a business must file bankruptcy.
How Do Lenders Get Paid if My Business Files Under Chapter 7?
A business that files bankruptcy under Chapter 7 will pay its debts by liquidation of its assets. There are no exemptions in business bankruptcy, which means everything is sold. The creditors are ordered by priority of debt, and paid accordingly.With the assistance of a bankruptcy attorney, filing for business bankruptcy under Chapter 7 is quite simple and methodical: the assets are sold and creditors are paid. As a business owner, unless you took personal responsibility to pay lenders, you personally carry out very little of the process.In the event that you did take personal responsibility to pay debts of the business, it is in your best interest to contact our experienced bankruptcy attorneys. We can discuss with you the option to file personal bankruptcy. Our priority is to protect your rights against creditors and help you make informed legal decisions regarding the financial state of your business.
Contact our Orlando, FL Bankruptcy Law Firm
Our bankruptcy attorneys know that just because we live in the Sunshine State does not mean that everyday is sunny and worry-free. Contact the team at Benenati Law Firm today at 407-777-7777 to discuss your financial dilemma. We offer comprehensive bankruptcy services and cater services to meet each client’s individual needs.
Don't Just Take Our Word for It
“I was very hesitant to go through the procedure of bankruptcy, especially at this late age of my life of the close to retirement years. Going through difficult personal health and family events made this very hard, yet every person I came in contact at the Law offices of Attorney Walter Benenati made me feel at ease. They were always quick to answer any questions. Even one time I was shocked I emailed the office and not even a couple of minutes later the attorney called to answer my question. My 17 year old son, was next to me and he was “mom did that just happen”? Every step of the way they were with me. They always informed me of any changes etc. So appreciated communication and help from Olga, Maria, Zumary, Stephanie, Jennifer and Chris. I am extremely grateful to Denisse B. & Attorney Claribel Acosta for helping me so at ease with the transitions and process of it all till the end. These girls rock!!! Great communication, Great Service, forever grateful for the blessing of the Benenati Law Office for this Season of my Life. Trust me , Attorney Walter Benenati was the right choice for me and it will be for you too.”
Robert and Joyce W.
“We were very impressed with professionalism no matter who we spoke to when we called the office. We were always treated with respect and kindness. The process was very smooth and there were no surprises. The whole procedure was explained beforehand and the process was exactly as explained. We were very embarrassed at having to file bankruptcy but Mr. Benenati and his staff always made us feel at ease and helped us to maintain our dignity through a very difficult time. We cannot thank them enough for helping us to get a fresh start!”
“I’m not sure if my words alone, could explain every detailed step that was taking by every individual in the Orlando and Kissimmee offices, that helped me with all of my documents. They went above and beyond. Customer services is an understatement. I work with over 65000 people and word of mouth is everything. If you need a lawyer and his staff that will work hard for you, Walter Benenati and his staff should be your # 1 choice.”
“Initially, I was embarrassed about having to file for bankruptcy. Your firm made me feel comfortable about my decision and did not judge me at regarding my past financial decisions. Everything happened just the way it was explained at the consultation. No hidden costs or excessive time away from work. Thank you so much for helping me get my life back on track.”
The Benenati Law Firm is the best. I can’t speak highly enough about their staff. Walter and their team were excellent helping me in my case. They answer all questions, answer the phone immediately every time, and they offer an awesome price. They are very knowledgeable with all laws. I’m amazed how fast my case was handled and done. I will continue to to use the Benenati Law Firm in the future. I would definitely recommend to my family and friends. Thank you Benenati Law Firm for helping me restart my life.
“Amazing Law firm! The best in the business. Don’t delay. Push the Restart Button!”
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We try to make our hours convenient for our hard-working clients by conducting FREE consultations on Saturdays (9-3) and during the week all the way to 5:00 p.m.