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Hopkinsville Business Bankruptcy Attorney

Read this infographic to learn about business bankruptcy protection. To know which chapter of bankruptcy is best for your business contact our Hopkinsville bankruptcy lawyers today at 270-220-7810.

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Hopkinsville Business Bankruptcy Attorney

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  1. HOPKINSVILLE BUSINESS BANKRUPTCY ATTORNEY There are two options when seeking business bankruptcy protection. When a company is going out of business, they sometimes have creditors that still have to be paid for their business loans. Chapter 11 Bankruptcy: Restructuring Chapter 11 bankruptcy allows the business to stay open and restructure their debts. During the restructuring period, the business will be under the supervision of the Court and is protected from creditors attempting to collect its debts. Chapter 7 Bankruptcy: Liquidation The majority of businesses are incorporated in some capacity, whether as a corporation or LLC. As the company is its own entity, it must file its own bankruptcy. hapter 7 is designed to assist the business in liquidating their assets and paying off any debts they owe to existing creditors so their business can properly close. Contact Us Businesses will need to hire an attorney for their bankruptcy. Always consult a Hopkinsville Kentucky business bankruptcy lawyer who has specific experience in handling business bankruptcy cases. Farmer & Wright, PLLC 1606 S Main St, Hopkinsville, KY 42240, United States 270-220-7810 info@farmerwright.com farmerwright.com

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