Lafayette Small Business Liquidation Attorneys
Chapter 7 bankruptcy is unique in that it allows debtors to eliminate debt by liquidating their assets. As a small business owner, we understand that filing for bankruptcy is a tough choice to make because you may have to liquidate your business. However, we can help guide you through this process to make it as smooth as possible.
At the Law Office of Adam G. Young, PLC, we understand that today’s economy has left many small businesses in a difficult financial situation. That is why it is important you receive the financial assistance you need as soon as possible. If your small business is suffering from debt, contact the Lafayette small business liquidation lawyer Adam G. Young, PLC, at 337-261-8800.
What Assets Will Be Considered For Liquidation?
If you file for chapter 7 bankruptcy, you may have a trustee of the court assigned to your bankruptcy case. The trustee can manage the liquidation of your assets so that you can repay non-dischargeable debts. Below is a list of assets that could be considered for liquidation:
- Unsold products
- Business furniture
- Intellectual property
- Leasing rights
- Patents and copyrights
While assets vary from business to business, the list above gives you an idea of what you might be dealing with. If you would consider liquidating any of the above or would like to discuss other legal options contact us today.
Liquidating your assets can be stressful, but the Law Office of Adam G. Young, PLC, is dedicated to helping you sort out your finances. If you are a small business owner who may have to liquidate your assets, contact the Lafayette small business liquidation attorney Adam G. Young, PLC, at 337-261-8800 for more information.