Can a small business file for Chapter 7 bankruptcy?

Businesses are able to file for Chapter 7 bankruptcy just as individuals are, although different rules apply to different forms of businesses regarding the actual process undertaken in the procedure. Common to all bankruptcies is the enactment of an automatic stay against the collection efforts of all creditors effective immediately following the filing of your petition, allowing you or your business to focus on the matter of managing your debt without the constant hassle of creditor harassment.

If you have questions about the process of Chapter 7 bankruptcy for small businesses, contact the experienced Houston bankruptcy attorneys at the Law Office of Russell Van Beustring, P.C., at 713-973-6650.