At the Law Offices of Aaronson Schantz Beiley P.A., we offer small businesses in Florida that are having serious financial difficulties services designed to alleviate the fiscal pressures they are experiencing. If your business is struggling with debt, then it’s important to investigate possible options, including the various types of bankruptcy at your disposal. Bankruptcy is not a good choice for every business, however if it makes sense in terms of your specific situation, it can be a way for you to protect yourself and your enterprise.
Types of Bankruptcy
In the State of Florida, there are three different types of business bankruptcy that you may utilize.
- Chapter 11- for most small businesses this is not a good option, but it may be utilized at times.
- Chapter 13- this is the most common one for small businesses
- Chapter 7- if your business is unable to pay its debts, this is often the best choice.