There are a lot of pros and cons when it comes to the different types of Moses Lake business reorganization. There are also a lot of complexities involved with any kind of business reorganization in Moses Lake WA. Let the attorneys with Brent Sorenson & Associates help you navigate those complexities. We can show you the benefits and drawbacks that are a part of all your options, and help you chart a course toward the best possible outcome for your company.
Is Chapter 13 Bankruptcy a Good Option for Moses Lake Business Reorganization?
The most important thing to realize is that if you have an LLC, a corporation, a partnership or a similar structure, chapter 13 bankruptcy will not be an option for your Moses Lake business reorganization. But sole proprietors can go this route as part of their business reorganization in Moses Lake WA. It could help you not only reorganize your business-related debts, but also your personal debts.
Sole proprietors can see many benefits by filing chapter 13 for their Moses Lake business reorganization. For example, this form of business reorganization in Moses Lake WA will allow you to retain all of your assets, and set up a repayment plan to pay back your debts. If, on the other hand, you filed for chapter 7 bankruptcy, then the trustee of your case could sell your assets if the court doesn’t regard them as exempt.
However, even though filing chapter 13 as part of your business reorganization in Moses Lake WA will protect your assets and allow you to continue to operate your company, you’ll still need to pay all non-exempt assets. These are assets that aren’t protected through exemptions.
The Experts With Brent Sorenson & Associates Can Help Cut Through the Confusion
If you’re not sure how to proceed with your Moses Lake business reorganization, the experts with Brent Sorenson & Associates can help. As you can see, this can be a very complicated matter – but we have a lot of experience in this area. Take advantage of that experience by calling 509-444-2600 or contacting us online.