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Should I File Bankruptcy for My Business?

When faced with financial hardships, business owners may be wondering if they should file bankruptcy for their business. Bankruptcy can provide much needed relief from debts and creditors, however it also has its drawbacks. It is important to consider the pros and cons before making such a large decision.

Filing bankruptcy can be beneficial in many ways. Most importantly, it will release the business from all debts that were existing prior to filing. In addition, creditors cannot pursue any further action against the entity once a bankruptcy case has been filed. Furthermore, filing for bankruptcy can also stop foreclosure proceedings on properties owned by the business as well as other collection activities initiated by creditors of that entity.

On the other hand, there are several potential drawbacks of filing for bankruptcy protection for a business.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you can find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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