Business-Savvy Indianapolis Business Bankruptcy Lawyers

Should You Stay or Should You Go?

When businesses face financial crisis, the questions to ask in order to analyze the best solution are entirely different from the questions an individual or family should ask when drowning in debt.

Business owners worried about debt and business operations should consult knowledgeable, professional business bankruptcy attorneys with advanced understanding of good business operation practices as well as sophisticated familiarity with the different forms of bankruptcy and business debt restructure plans available.

Business Debt Relief Attorneys Serving Central Indiana for Three Decades

At the Indianapolis bankruptcy law firm of Redman Ludwig, P.C., our accomplished business bankruptcy lawyers have served the Central Indiana business community for 30 years. We have been saddened — though unsurprised — to see so many law firms "jump on the bandwagon" to provide bankruptcy services during the economic downturn. We applaud our colleagues' desire to help business owners in need, but we strongly encourage business owners to seek legal counsel about business debt relief from a bankruptcy law firm that can demonstrate its history of practice in the complex area of business finance and business bankruptcy.

Should You Shut Down or Continue Operating?

The first and most important question for a business in financial crisis is a tough one. We immediately ask all our clients, "Is the business worth saving? If profits and losses are upside down right now, can you remedy that situation if you had time and freedom from creditor harassment? In some cases, the answer is no. Business owners in this situation are often relieved to come to a firm conclusion to close the business's doors. We help business owners with an orderly closure, paying creditors and taxes if possible or filing a Chapter 7 bankruptcy petition if no resources are available with which to pay debts. We take care to advise business owners about the possibility of personal liability for business debts, and we work in conjunction with the client's other commercial operations advisers to keep lines of liability clear.

If, on the other hand, you can show a business plan that will result in profits after a reasonable period, then we will educate you about the pros and cons of filing a business debt restructuring bankruptcy plan under Chapter 11 (or Chapter 13 if your business is not incorporated). Chapter 11 business bankruptcy gives a business owner complete freedom to run his or her business back into the black, without interference from aggressive creditors who must wait for their payments under the terms of the Chapter 11 bankruptcy debt reorganization plan. Read answers to common questions about Chapter 11 business bankruptcy.

Central Indiana Bankruptcy Solutions — Toll Free (866) 793-5226

As a business owner, you deserve debt relief and freedom from creditor harassment as much as individuals and families do. Make use of your rights under the U.S. bankruptcy and business debt relief laws. For additional information and practical advice, call our Indianapolis law offices directly at (317) 685-2426 or toll free at (866) 793-5226, or reach us online by completing the brief form located on the contact us page of this Web site. We offer reasonable payment plans and will deduct initial consultation costs from your fee should you decide to retain our attorneys.

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