San Antonio Small Business Bankruptcy Lawyers

Texas Chapter 13 Attorney

If you operate a small business, such as a restaurant, retail store, or home improvement company, that finds itself under heavy financial pressure from creditors or the IRS, contact the San Antonio small business bankruptcy attorneys at Rosenbaum Law Offices (now Davis Law Firm). We will show you how the flexibility of Chapter 13 bankruptcy can not only relieve an immediate debt crisis, but also give you the opportunity to reorganize your business on a more stable footing.

The main purpose of a small business Chapter 13 case is to take advantage of the full range of the Bankruptcy Code’s protection for debtors by matching specific provisions of the code to your immediate and longer term needs. For example, if your most pressing problem involves the likelihood of eviction by a commercial landlord, the automatic stay of bankruptcy will prevent your landlord from repossessing the premises immediately. You will then have the chance to arrange for the cure of rent arrearages in a motion to assume the lease. In the meantime, your Chapter 13 payment plan will pay past-due rent obligations over time from anticipated income while you stay current on payments.

Other typical points of pressure–income or payroll tax problems, defaults under secured financing agreements or other bank loans, or key vendor or supplier relationships–can also be relieved at filing while we have a chance to work out mutually satisfactory arrangements with creditors for the longer term. Making regular payments under your Chapter 13 plan is the most important component of a successful Chapter 13 reorganization, but many provisions of the Bankruptcy Code address very specific problems that can expand the small business debtor’s options.

We can also help you with problems relating to personal guaranties of small business debt, claims of unpaid employees, judgment liens, and civil liability claims arising under tort or contract theories.

Chapter 13’s flexibility is especially valuable for small business debtors. As your circumstances change, so can your Chapter 13 plan. Depending on positive or negative developments in your business during the payment period, we can dismiss your bankruptcy case if you no longer need protection, or convert it to a Chapter 7 liquidation if it appears that your business cannot be salvaged. The main consideration is that your business’s future should be determined by your ability to compete in your market over time, not by the immediate pressure of a single creditor or landlord’s claim. Chapter 13 bankruptcy gives a small business the chance to see what it can do.

For more information about our ability to resolve short-term financial problems and restore long-term financial stability for small businesses, contact an experienced Texas bankruptcy lawyer at Rosenbaum Law Offices (now Davis Law Firm) in San Antonio.