FREE Debt Relief & Bankruptcy Consultation
(330) 409-2876 or (877) 505-9455
FREE Debt Relief Consultation Call (330) 409-2876 or (877) 505-9455
Sheppard Law Offices
TALK TO AN OHIO BANKRUPTCY ATTORNEY TODAY (330) 409-2876
As an Akron-Canton Ohio bankruptcy attorney and tax law office, it is common for us to see Ohio small business owners struggling with their personal finances, business finances, or both. This brings the small business owner to a very important decision on how to get out of debt, whether to file personal bankruptcy, business bankruptcy, or both. There is not a one-size-fits-all solution to this financial problem because each small business owner faces their own unique set of circumstances.
Ohio Small business owners operating a sole proprietorship may be concerned with how to close the business and rid themselves of the business debt. These owners will usually look to file for personal chapter 7 or chapter 13 bankruptcy protection. Since the assets and debts of the business will be included in the personal bankruptcy estate, filing for personal bankruptcy can leave the small business owner discharged of both personal and business debts. If the business owner wishes to keep the business operating, there are several options that also exist which may allow them to do so. Ultimately, determining the best option will depend on the value, type of business and goals of the small business owner.
When seeking to file bankruptcy for a separate legal entity such as a LLC or Corporation, the small business owner should not be personally affected unless they have personally guaranteed the debts or have taken other action that would make them personally liable. Thus, a business that is considered a separate legal entity should be able to file bankruptcy independent from the business owner, without personally liability extending to the owner for the debts of the business.
At Sheppard Law Offices our personal and small business bankruptcy attorneys are experienced in working to assist business owners and small businesses that are struggling financially. Additionally, since a common issue among small businesses it created by tax debt, federal tax attorney Ken Sheppard, Jr. can guide you through the difficult process of determining what the best avenue to free yourself from business or personal debt, including tax debt. Call (330) 409-2876 today to schedule a FREE initial consultation to discuss your small business and personal debt issues.
Sheppard Law Offices
Canton, Ohio Office
Belden Village Tower, 200
Canton, Ohio 44718
Tel: (330) 409-2876
Columbus Ohio Office
2600 Tiller Lane, Suite A
Columbus, Ohio 43231
Tel: (614) 523-3106
Newark, Ohio Office
843 N. 21st Street, Suite 108
Newark, Ohio 43055
Tel: (740) 345-7138
Mt. Vernon, Ohio Office
11 West Gambier Street
Mt. Vernon, Ohio 43050
Tel: (740) 392-0404
We are a debt relief agency. We help people file for protection under the U.S. Bankruptcy Code.
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Sheppard Law Offices, LPA is conveniently located and serving chapter 7 and chapter 13 bankruptcy clients in Canton, Ohio. Our office is a short drive from throughout Stark, Tuscarawas, and Summit Counties. We regularly provide debt relief solutions to clients from Akron, Canton, North Canton, Massillon, Dover, New Philadelphia, Alliance, Navarre, Strasburg, Ballivor, Jackson Township, Canal Fulton, Barberton, Greenlawn, Medina, Wooster, Orrville, Dalton, Minerva, Ashland, Wadsworth, Carrollton, Dundee, Millersburg, Hartville, Doylestown, Green, Uniontown, Salem, Columbiana, Uniontown, and throughout Ohio.