You signed a personal guarantee. Used personal credit to keep the business going. Or closed the doors, only to find the debt followed you home. AlignX Law helps small-business owners, individuals with business-related debt, and companies understand their options. We look at what the business owes, what you may owe personally, and a practical way forward for each.
Does this sound like your situation?
- The business is operating, but loan payments and overdue bills are taking over.
- A lender is pursuing you personally under a business guarantee.
- You put business expenses on personal credit cards and can no longer keep up.
- The business closed, but collection demands and lawsuits continue.
You do not need an active company to seek help with debt that came from a business. The first step is to separate the company’s obligations from your own.
Start with the business reality
A viable company with too much debt faces a different problem from an operation that can no longer support itself. We examine cash flow, assets, creditor pressure, contracts, and the owner’s personal exposure. Filing a case is one possible tool; understanding the objective comes first.
Personal bankruptcy and business-related debt
A business closure does not necessarily resolve an owner’s guarantees or other personal obligations. We assess the individual and the company separately, then consider how the available options interact. Chapter 7 and, where appropriate, Chapter 11 can be part of that analysis.
Reorganize a business with a future
Traditional Chapter 11 and small-business reorganization under Subchapter V offer different procedural paths. We evaluate eligibility, the resources needed to operate during a case, and the terms of a workable plan. Reorganization requires more than relief from immediate pressure: the underlying business needs a realistic operating path.
Wind down with a defined process
When continued operation is no longer the objective, we evaluate Chapter 7, a Florida assignment for the benefit of creditors (ABC), and negotiated or other out-of-court liquidation options. Each has different consequences for asset control, claims, costs, and the people involved.
Begin with the financial picture
Useful starting materials include recent financial statements, a creditor list, collection notices, loan and guarantee documents, pending lawsuits, and an overview of assets. Let us know about approaching deadlines so they can be assessed at the outset.