Self Employed / Small Business Management

Extensive Bankruptcy Guidance For St. Louis County Business Owners

Serving the Greater St. Louis, Missouri, Area

Business owners struggling to repay loans or debts can quickly become overwhelmed with creditor demands during periods of slow or interrupted cash flow and collection efforts by creditors. Fortunately, depending on the size and scope of your business, you have differing options to find relief, whether through Chapters 7, 11 or 13 bankruptcy filings or non-bankruptcy approaches.

Sole Proprietors

For a sole proprietor with low value personal assets and who may be personally liable for some or all of his business as well as his personal debts and who may not wish to continue operating the business, a Chapter 7 bankruptcy filing may be an appropriate answer to debilitating debt.

Chapter 13 and Chapter 11 Bankruptcy for Small Business Owners

There are two types of Chapter 13 bankruptcy cases that may be useful for the self employed and small business owners:

  • The standard individual Chapter 13 bankruptcy case
  • The "debtor engaged in business" Chapter 13 bankruptcy case.

The standard individual Chapter 13 bankruptcy case may be appropriate for a self employed person in a service business who works out of his home, has little in the way of business assets, has no employees and whose creditors do not extend trade credit to the business. A Chapter 13 bankruptcy "debtor engaged in business" case may be helpful to a small corporation/LLC owner or sole proprietor where a Chapter 11 bankruptcy, with its expense, complexity and ongoing challenges may not be the most practical approach for some small business entities.

Over 35 Years Assisting Businesses With Their Bankruptcy Needs

For more than 35 years, attorney Steven K. Brown has provided the comprehensive and knowledgeable guidance our clients need to make thoughtful decisions regarding their business future. Offering extensive bankruptcy support, our staff works diligently to understand your unique situation before offering advice on the best course of action for your needs.

Whether through a Chapter 11 Reorganization or through the use of individual Chapter 7 or 13 bankruptcy, or recommending non-bankruptcy alternatives, Law Offices of Steven K. Brown takes the time to provide the informed representation you need to find relief.

Email our office today or call 314-732-0476 or toll free 888-894-8810 to discuss your business' specific needs today.

What is Chapter 11 Bankruptcy?

Chapter 11 bankruptcy permits a person or business to reorganize while obtaining protection from creditors. The goal is to obtain court approval of a plan providing for the restructuring of its debts. It is vital to a Chapter 13 bankruptcy case or a Chapter 11 reorganization plan, as each may offer advantages from which you and your business may benefit.

To that end, we will sit down with you and gather information to determine if a Chapter 11 bankruptcy or creative use of Chapter 13 or Chapter 7 bankruptcy is better for you and your business. Depending on your entity and incorporation status, Chapter 13 personal bankruptcy may offer a more practical solution than the Chapter 11 commercial relief route.

Chapter 11 reorganization bankruptcy can be a good strategy if you wish to remain in business and if your total debt exceeds Chapter 13 limits, which are currently just above $1 million. Chapter 11 can also offer you several months of reprieve from debt collection while preparing a reorganization plan, giving you the time you need to get your finances in order.

Multiple Approaches: Attorney Steven Brown can help you Determine What's Best for You

As in personal bankruptcy proceedings, an evaluation is needed to determine what the possibilities may be in your situation. You may have multiple approaches to take. Experienced bankruptcy lawyer Steven Brown can help you settle on an approach that realistically helps you reach your goal.

Email our office today, or call 314-732-0476 or toll free 888-894-8810 to request a questionnaire for you complete and streamline our evaluation as much as possible.

We are a Debt Relief Agency under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 as defined in 11 U.S.C.S. § 101(12A) of the Bankruptcy Code.