What Is the Value of my Small Business in Bankruptcy?

A business owned by someone considering filing for Chapter 7 or Chapter 13 bankruptcy may be seized or liquidated the same as any other asset owned by a filing individual if its value exceeds the amount of protection available for that type of property under the US Bankruptcy Code.

Thus, it is extremely important, if you are a small business owner, to retain an experienced bankruptcy attorney to assist you, let your livelihood be lost in the process.

To read more about the value of a small business in bankruptcy, click here to read our full article on this topic on the new Michigan Bankruptcy Blog of The Hilla Law Firm, PLLC.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact us at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

3 responses to “What Is the Value of my Small Business in Bankruptcy?

  1. There are many problematic issues for small business owners who are thinking about filing a personal bankruptcy. As always, doing research will benefit you greatly. This is critical. Each situation is different and needs urgent attention. Great post.

  2. Pingback: Business Debt and the Chapter 7 Bankruptcy Means Test | Michigan Bankruptcy Lawyer

  3. Pingback: Can I Lower my Salary or Wages to Pass the Chapter 7 Bankruptcy Means Test if I am Self-Employed? | Michigan Bankruptcy Lawyer

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