Small Business Debt? Texas Bankruptcy Attorney Offers Help

David Shuster | 888-365-0921 | Schedule Your Consult Today

“Contacting an attorney to find out what can be there for you at the end of the tunnel is a great idea.”

During the COVID-19 shutdown, many businesses are struggling with decreased revenue and bills piling up. If you run a small business and are worried about debt, what are your best options? Can bankruptcy help with small business debt? If a business owner files bankruptcy, will they need to close the business?

David Shuster is a Texas bankruptcy attorney with Shuster Law, PLLC in the Dallas—Fort Worth area. In this interview, he explains that each situation is different, and a bankruptcy lawyer can offer valuable guidance for business owners who are stressed out and don’t know what to do about debt. He says a quick free phone call can clear up lots of confusion and instantly ease some worries.

To learn more, contact the attorney directly by calling 888-365-0921 or by submitting a contact form on this page. There is no charge for the consultation.

Key Takeaways From David Shuster:

Small businesses face many challenges that larger companies do not, especially in 2020. With increased financial pressure on these small businesses, many are seeking financial and legal advising as they make plans for saving or salvaging their business during the COVID-19 pandemic.

When small businesses struggle to make ends meet, it’s important to reach out for advice.

If a small business is struggling to pay overhead such as daily business expenses or a small business loan, it’s a good idea to give a bankruptcy attorney a call. Shuster maintains that it is never too early to learn about your options, and often speaking to a bankruptcy attorney can help a business owner come away with a new and improved game plan for their business finances. Bankruptcy may be an option for small business owners in order to protect themselves from further or unnecessary financial damages.

In fact, it may be possible for someone to file for bankruptcy and then continue to operate their business, bringing in a profit without the worry of debts. There are even times that a business owner calls to talk to a bankruptcy attorney only to find out that the situation isn’t as dire as it seems at first. Shuster recommends reaching out for some answers before taking steps such as taking out additional loans or calling the business venture quits entirely; there may be legal remedies available for your situation.

The majority of debt has personal guarantees.

This is a surprise to many people; due to this fact, small business owners will be considered on the hook for any outstanding loan payments. Small business owners contribute a good deal of their personal finances to the running of their business. This is why Shuster recommends filing a personal bankruptcy for business reasons. Filing a personal bankruptcy can erase some of a person’s debt and ease the pressure that comes from running and supporting a small business.

The initial consultation with a bankruptcy attorney can do wonders for a struggling business owner’s peace of mind.

Financial difficulties and thoughts of bankruptcy can be extremely stressful and anxiety inducing. Shuster finds that in many cases the people who call him for advice leave the phone call feeling much more at peace than when they picked up the phone. Hearing reassurance from an experienced professional that you do have options can be invaluable to a business owner’s courage to continue to fight for the business they built. The initial consultation is free and can be an extremely important asset for a small business owner in distress over finances. An experienced bankruptcy attorney understands small business and bankruptcy law and will be able to help make a game plan to take quick and effective action on behalf of small businesses and their owners. If your business is struggling, it is never too soon to learn about your options.

To learn more, contact David Shuster directly by calling 888-365-0921 or by submitting a contact form on this page. There is no charge for the consultation.

Disclaimer: This video is for informational purposes only. In some states, this video may be deemed Attorney Advertising. The choice of lawyer is an important decision that should not be based solely on advertisements.