Queens Bankruptcy Attorneys

Don't let financial setbacks be the end of the story for your Brooklyn business. Bankruptcy can be a turning point, a chance to reset, rebuild, and emerge stronger than ever. At Jacobs P.C., we offer a guiding hand through the complexities of bankruptcy law, with the flexibility of virtual consultations and a deep understanding of the Brooklyn business landscape. Let's discuss how we can help your business overcome challenges and write its next chapter of success.

We want to see your business thrive. Schedule a consultation with a bankruptcy attorney in Queens by calling (347) 952-7030 today.

Filing for Bankruptcy as a Business in Queens

The dynamic business landscape of Queens, New York, presents a unique set of challenges for companies striving to thrive. The intersections of factors like intense competition, high operating costs, evolving regulations, and fluctuating economic conditions can create significant financial strain. Internal pressures, such as unforeseen legal disputes or poor financial management, can exacerbate these challenges further, potentially leading businesses down the path of financial distress.

Whether your business is currently facing financial hardship or seeking to mitigate future risks, we are your trusted partners in navigating the complexities of the Queens market. Our goal is to empower you with the knowledge and tools necessary to build a resilient business capable of thriving in any economic climate.

Bankruptcy Options for Queens Businesses

Queens businesses facing financial headwinds have a lifeline in the form of bankruptcy, a legal tool designed to offer a fresh start and a path toward recovery. However, navigating the complexities of bankruptcy law can feel like a maze, with different paths leading to different outcomes. We want to be your trusted guide out of the labyrinth, helping you understand your options and choose a path that's right for your business.

Chapter 7 Bankruptcy

Often referred to as liquidation bankruptcy, Chapter 7 is typically pursued when a business is no longer viable, and its debts outweigh its assets. In this scenario, assets are liquidated to repay creditors, offering a swift resolution but also marking the end of the business's operations. While it may seem like a drastic step, Chapter 7 can be a necessary one for businesses facing insurmountable debt, providing a clean slate and a chance to move forward.

Chapter 11 Bankruptcy

Chapter 11, also known as reorganization bankruptcy, is designed for businesses with the potential to rebound. This option allows businesses to continue operating while restructuring their debts and operations under court supervision. It's a more complex process, but it offers the opportunity to negotiate with creditors, modify contracts, and implement a plan to regain profitability. If your business has a solid foundation but is struggling under the weight of debt, Chapter 11 could be your lifeline.

Chapter 13 Bankruptcy

While primarily used by individuals, Chapter 13 bankruptcy can also be a viable option for sole proprietorships with a regular income. This type of bankruptcy involves creating a structured repayment plan, allowing the business to pay off debts over time while continuing to operate. It's a good choice for businesses that have a steady income but need some breathing room to catch up on payments.

Why Choose Jacobs P.C. to Represent Your Queens Business?

Navigating the complexities of bankruptcy law can be daunting, particularly when the future of your business hangs in the balance. Understanding the nuances of Chapters 7, 11, and 13 requires a sophisticated legal acumen that we possess.

Our team at Jacobs P.C. has a track record of guiding Queens businesses through similar financial challenges. We offer more than just legal knowledge; we provide strategic counsel, empowering you to understand your options, evaluate potential outcomes, and develop a customized plan that aligns with your business goals.

We are prepared to act as your trusted advocates, skillfully negotiating with creditors, protecting your interests, and diligently pursuing favorable resolutions in all legal matters relating to business,

Whether you're grappling with mounting debt, exploring restructuring options, or seeking clarity on your legal rights, we are here to provide the support and guidance you need. Let us collaborate with you to navigate these turbulent waters and set your business on a course toward renewed stability and prosperity.

Call (347) 952-7030 or contact Jacobs P.C. online to schedule a virtual consultation with a Queens bankruptcy lawyer today.

Frequently Asked Questions about Bankruptcy in Queens

Providing Answers & Solutions
  • How long does the bankruptcy process take in Queens?

    The duration depends on the type of bankruptcy filed. Chapter 7 typically takes about 3-6 months, while Chapter 13 involves a 3-5 year repayment plan.

  • Will I have to go to court if I file for bankruptcy?

    Yes, you will need to attend a mandatory meeting of creditors, called a 341 meeting, at the U.S. Bankruptcy Court for the Eastern District of New York, which serves Queens.

  • How much does it cost to file for bankruptcy?

    The filing fees for Chapter 7 are $338, and $313 for Chapter 13. Additionally, attorney fees can vary based on the complexity of your case.

  • Can bankruptcy stop foreclosure proceedings on my Queens home?

    Yes, an automatic stay is enacted when you file for bankruptcy, which temporarily halts foreclosure proceedings and gives you time to address your debt.

  • How will bankruptcy affect my ability to rent an apartment in Queens?

    Landlords may check your credit history and see the bankruptcy filing, which could impact their decision. However, providing proof of steady income and a good rental history can help mitigate concerns.

  • Where can I find more information about filing for bankruptcy?

    You can consult the U.S. Bankruptcy Court for the Eastern District of New York's website or contact our bankruptcy firm for detailed guidance and support tailored to your specific circumstances.

We Put Control Back in Your Court.

We are creative minds that think quickly, use well-balanced, reasoned legal judgment, and are caretakers of our clients' Confidences.

  • Boutique Legal Guidance
    We listen, internalize, and engage our clients’ needs with the utmost respect and care. We understand how scary and stressful this time can be and we help alleviate the burden.
  • Unmatched Legal Experience

    We have more than 100 years of combined experience. We are advocates for you, your business, and the outcomes you need. When you engage the firm, you're engaging an aggressive and intelligent set of attorneys.

  • Exceptional, Client-Driven Results

    When legal matters disrupt your business, the clock is ticking. At Jacobs P.C., no matter how insurmountable your business problem is, we work tirelessly to achieve results that matter to you.

Confront the Impossible Use Our Experience to Succeed
At Jacobs P.C., we are committed to achieving victory with unparalleled precision and drive.
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