Bankruptcy Chapter 7 Lawyers

Businesses filing under Chapter 7 do not benefit in the same manner as individuals, because basically Chapter 7 for businesses means total liquidation. For a business to file under Chapter 7 it would have to be deemed as unrecoverable, thus filing would be alerting all that the business is now closed, yet importance must be met that the individual business owners are not impacted negatively.

Therefore, in the decision to file under Chapter 7, the surety of unrecoverability would have to be assessed.

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