More than 100,000 small business have closed their doors permanently due to the extended and extreme loss in revenue caused by COVID-19. As a business owner, you want to see your company thrive, and when factors beyond your control make that extremely difficult, it can be hard to know where to turn. Finding the right small business bankruptcy lawyer to meet your unique needs could mean the difference in getting your business back on track and losing it for good.
Keep in Mind – Bankruptcy Doesn’t Mean the Death of Your Business
Making the decision to file for bankruptcy does not mean your business has failed – or that you have failed your business. Bankruptcy is not a death sentence to your company. When you are able to negotiate with creditors through a professional small business bankruptcy lawyer, creditors will be open to negotiating terms of repayment – especially following a global health crisis.
Regulations have been put in place due to COVID-19 to address the growing issue of bills being due with no revenue coming in. The Coronavirus Aid, Relief and Economic Security or CARES Act, for example authorized more than $2 trillion In funds to battle COVID-19 economic impact in a variety of forms, including loans for small businesses.
However, for many, that simply isn’t enough to sustain the extended period of economic shutdown we have experienced since March. In the unprecedented times we find ourselves, it becomes important to let go of our preconceived notions about bankruptcy filings and be forgiving to ourselves when facing new hardships.
I Can’t Afford a Small Business Bankruptcy Lawyer, I’m Bankrupt!
While it may seem counter intuitive to spend funds that aren’t there, you may not have a choice if you want to save your business in the long run. The right small business bankruptcy lawyer will be willing to work with you to create a strategy that fits within the budget you are able manage.
If you are the sole proprietor of your business, you would be able to file without the legal assistance of a small business bankruptcy lawyer. However, other types of businesses are required to have a lawyer secured prior to filing.
A good small business bankruptcy lawyer will not try to “sell” you on the idea of bankruptcy. They will be there to make sure you’ve considered all alternatives, have filed the right forms and properly addressed all creditors – which can save you from encountering additional expenses down the road.
Choosing the Right Lawyer While Battling Pandemic Panic
The unknown timeline of COVID-19 and the resulting impacts is enough to send anyone over the edge with worry for the future. After all, we do not know exactly how long this will last. The worst thing you could do when considering filing for bankruptcy is to not also consider who to hire as your small business bankruptcy lawyer because you were in a rush to file.
The beauty here, if you choose to see it, is that we do not know how long this will last. It could be over next week, and it could be over in a year, but your bankruptcy filing will continue regardless. Operate as though you have time to find the right lawyer for your small business bankruptcy case, because you do!
Really take the time to evaluate your business situation and financial goals in order to have a clear idea of what you are looking for your bankruptcy lawyer’s help with. Having your wish list strategy thought out will help you sort through lawyers who believe in that strategy and can help you accomplish it – even if that comes with some tough advice on what’s realistic.
If you are considering bankruptcy for your business, give us a call at (404) 585-0040 or fill out our online contact form to connect with one of our highly skilled small business bankruptcy lawyers. We are your partner, and we want to see your business succeed!
Charles is absolutely a brilliant attorney! He is a critical thinker and determined problem solver. He is very accessible, even via text. If he is in court, his ability to multi-task, you can feel safe and secure in knowing he is handling any issues or concerns. I entrust him with my future, he is a uniquely talented attorney who always challenges himself to achieve the absolute best outcome for his clients.
I was very satisfied with Mr. Clapp services. He is a man of his word and did everything he told me he would. I would highly recommend him.
I came to Mr. Clapp by referral with a complicated case involving both personal and business debts that were out of control. Mr. Clapp evaluated the situation and gave me options that I was not even aware of. He knows his stuff, executed flawlessly, and I have been able to start over. I highly recommend Charles Clapp if you have debt or bankruptcy issues. Listen to his advice, he knows his stuff. I consulted with several other bankruptcy attorneys prior to retaining Mr. Clapp, and they did not have the same breadth of knowledge that Mr. Clapp brought to my case.
I selected Charles Clapp to handle my bankruptcy based on his already positive reviews and I am glad that I did! He was very accommodating to my schedule and made my negative life experience positive. I was actually very surprised how easy he made the process. Life happens and it’s great to be represented by someone that understand that!!! Stop your attorney search with Charles Clapp!!!