Insolvency and Bankruptcy

If you’re unable to pay your debts, bankruptcy, liquidation, or insolvency may be options to consider, but they should be a last resort. Before considering these measures, we recommend that you explore other viable solutions. There may be other alternatives available, such as negotiating a payment plan with your creditors or seeking alternative financing options. 

Get in touch with us today to understand your options and determine the best course of action for your specific situation.

Not necessarily. The extent to which you’ll lose assets depends on the type of bankruptcy you file for and the laws of your state. In some cases, you may be able to keep certain assets, such as your home or car. 

Contact us now to understand what assets are protected under the law and guide you through the process to ensure that you keep as many assets as possible.

The process of filing for bankruptcy, liquidation, or insolvency can be complex and involve several stages. A lawyer can help guide you through each stage, which may include preparing and filing the necessary documents, attending court hearings, and negotiating with creditors.

It’s important to seek legal advice early on to ensure that the process runs smoothly and to protect your rights.

Bankruptcy is a legal process that provides relief to individuals or businesses who are unable to pay their debts. However, not all debts can be discharged in bankruptcy. Debts such as child support, alimony, student loans, and some taxes are generally not dischargeable.

Speak to our lawyers to understand which debts can be discharged and which cannot and guide you through the process to ensure that your debts are discharged to the fullest extent possible.

As a director of a company, you may be held personally liable for the company’s debts under certain circumstances, such as if you signed a personal guarantee for a loan. This means that creditors can come after your personal assets to pay off the company’s debts.

Contact us to understand your personal liability and learn how we can work with you to protect your assets. 

In some cases, it may be possible to continue to operate the business during the insolvency process, depending on the type of insolvency proceeding and the specific circumstances of your case. This is known as a ‘trading while insolvent.’ However, it’s important to note that continuing to operate a business while insolvent can be risky and may require additional legal and financial expertise. 

A lawyer can help you understand your options and guide you through the process to ensure that your business can continue to operate to the fullest extent possible. It’s crucial to seek legal advice to understand your options and learn the process to ensure that your business can continue to operate to the fullest extent possible. 

The costs vary depending on the complexity of your case and the experience of the lawyer. However, our law firm offers fixed fees for these types of matters.

In order to get a specific quote, it would be best to contact us directly. Our lawyers can assess your specific needs and provide you with a fixed-fee quote.