BANKRUPTCY – CHAPTER 7, 11, 13
Serving Dallas, Plano, Fort Worth and Surrounding Cities
When you first envisioned your future or the future of your company, you might have imagined long-term success, exponential growth, and lasting financial independence—essentially, anything but bankruptcy. Stereotypes make people think bankruptcy means failure, but every one of us is vulnerable to unforeseen circumstances that can result in financial hardship. If you have fallen on hard times, bankruptcy isn’t a form of giving up—it can be a solution and a turning point.
At Herrin Law, we have handled countless bankruptcy cases in a broad variety of industries. From funeral homes to restaurants, from hardware stores to dairy farms, each type of business has unique financial challenges and, therefore, requires a customized legal approach. We have the knowledge, skills, and experience needed to help you rescue – or obtain relief from – your struggling business.
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The reason you hire an attorney is to help you get a positive result. Our entire purpose is to aggressively advocate for our clients to make sure they are put in a better position after hiring us. We achieve this by offering fair pricing and affordable payment plans, while still ensuring our clients receive the best representation possible.
We handle all the following bankruptcy cases for business owners in Dallas:
Otherwise known as liquidation bankruptcy, Chapter 7 allows business owners to discharge most or all their debt by liquidating their assets. You will not retain ownership over your business, but you can achieve the new financial beginning you need.
Generally, Chapter 11 is the business version of Chapter 13, allowing people to restructure business debt into manageable repayment plans while retaining control and ownership over their businesses. If you own a small business, you may be able to take advantage of Subchapter V, which is a streamlined version of Chapter 11 that is exclusively available to small business owners. For business bankruptcy services you can trust, you can bank on us at Herrin Law. Reach out to us today to schedule an appointment.
Chapter 13 allows people to reorganize debt into manageable 3-5-year repayment plans. Because they are personally responsible for their business debts, sole proprietors are the only business owners who can file Chapter 13 bankruptcy. Owners of LLCs, corporations, and partnerships will need to liquidate through Chapter 7 or restructure through Chapter 11 or 12.