Minnesota's Small Business Bankruptcy Attorneys
Running a business, large or small, means taking a lot of risks. Bankruptcy is one of those risks. In fact, the last decade has seen companies as large as General Motors, Chrysler, Enron, WorldCom, Conseco, Lehman Brothers, Washington Mutual and CIT Group (just to name a few) file for bankruptcy protection.
If you own a small business that's struggling financially ... take heart from the fact that almost every self-made millionaire in America went bankrupt or nearly bankrupt (often several times) before "making it" — but don't make the mistake of trying to right your financial ship without the help of an experienced attorney.
At Prescott & Pearson, P.A., we have been helping Minnesota small business owners obtain debt relief through bankruptcy for more than 35 years. Whether you own a construction business, a restaurant or a lawn care company — we're confident that we can help you too. To take the next step, all you have do is call or contact our New Brighton law offices and we'll get you scheduled for a free consultation with one of our attorneys.
Bankruptcy fact: With our help, you may even be able to keep your business.
Protecting Everything Else You've Worked For
If your business corporation or LLC has taken out a line of credit or used a business credit card that you have personally guaranteed, and your small business files for bankruptcy — you will still have to repay those business debts. Even though your small business itself is a separate corporation or legal entity the bank usually makes you sign and be personally obligated for its debt.
Because this is the way it works, and because you and your family shouldn't have to lose everything just because you followed your dreams — you will almost always want to file for Chapter 7 bankruptcy protection as an individual, separate from whatever happens on the business side.
Our lawyers will help you understand your options, explain what your obligations are and guide you through this process. We may even be able to help you keep your small business at the end of the day.
"This Is All We Do and We Do It Well."
Minneapolis-St. Paul: 651-968-8096 / Statewide Toll-Free: 888-366-0827
For answers to any other questions about bankruptcy in general, or about your specific situation and concerns — don't hesitate to call or contact our lawyers in the Twin Cities area for a free consultation.