Issues for Chapter 7 Debtors

Helping Businesses Determine Whether Chapter 7 Bankruptcy is Right for Them

When your business is unable to meet its financial obligations, and there seems little hope in it ever being able to catch up, Chapter 7 bankruptcy may be an appropriate option. For a business filing Chapter 7 bankruptcy, the process of liquidating assets will be turned over to a third party, known as the trustee. These assets will be sold and the proceeds will be used to repay creditors. At Robinson, Diamant & Wolkowitz, our legal team is available to represent businesses throughout California in need of Chapter 7 bankruptcy protection.

What Happens in a Chapter 7 Bankruptcy?

As soon as a business files for Chapter 7 bankruptcy, all creditors will receive a notification of an automatic stay of all collection actions. All lawsuits against your company will end, as well as all debt collection proceedings. This allows you the freedom to be able to close a business completely.

What Are the Benefits of Chapter 7 Bankruptcy?

Our team of attorneys will sit down with you to discuss the true value of your business to determine whether Chapter 7 bankruptcy is the right option for your company and people wishing to avoid the cost and time associated with a Chapter 11 bankruptcy.

Often called a file and forget proceeding, a Chapter 7 liquidation allows you to effectively terminate the operation of an unsuccessful business.

When you want to close your business after enduring the stress of financial hardships, call 310-277-7400 or e-mail a lawyer at the law office of Robinson, Diamant & Wolkowitz in Los Angeles.