SMALL BUSINESS BANKRUPTCY

Attorney for Small Business Owners Seeking Debt Relief

Most small businesses incur some amount of debt as an often necessary part of their growth. But when circumstances change and debts become unmanageable, they can threaten the business as well as the personal finances of the business owners.

At the Reno Law Firm in Memphis, we help small business owners use the protection of the bankruptcy courts to address their debt concerns. Whether you need relief from debts incurred by a defunct business or you are looking for a way to restructure your business and keep it running, we may be able to help you find a solution.

Contact us to schedule a consultation with experienced bankruptcy lawyer Claire Reno. We serve clients in Shelby County and throughout the region.

Helping People With Debts From Defunct Businesses

Often, when a small business becomes defunct, the owner or owners have built up significant personal debts in order to run the business and now have no business income that can be used to repay those debts.

Maybe you ran your business as a sole proprietorship under your own name or as a general partner. Or maybe you set up a corporation or limited liability company (LLC), but your bank may have required you to personally guarantee business loans.

Running a business involves taking risks, and you and your family should not have to suffer because your business took risks that didn't work out.

Depending on the specific circumstances of your small business, filing personal bankruptcy may help you eliminate or reorganize business debts that you cannot afford to repay.

Reorganizing Ongoing Businesses Through Bankruptcy

In many cases, small business owners who want to continue their businesses after filing for personal bankruptcy are able to do so, especially when their businesses are primarily based on self-employment. Certain businesses are exempt from liquidation in Chapter 7, and future business income can be used to fund a Chapter 13 reorganization plan.

We can help you determine whether bankruptcy will help you keep your business running in spite of serious debt issues. Contact us to discuss your full range of small business bankruptcy options.

We are a debt relief agency. We help people file for bankruptcy under the Bankruptcy Code.

At the Reno Law Firm, based in Memphis, Tennessee, we represent clients throughout West Tennessee, including the communities of Brownsville, Germantown, Collierville, Bartlett, Arlington, Millington, Cordova, Covington, Jackson, Munford, Atoka, Brighton and Bolivar; and other locations in Shelby County, Tipton County, Fayette County, Haywood County, and Madison County

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