Part 3: Atlanta Bankruptcy Attorneys Clark and Washington Discuss Filing Chapter 7 for Your Small Business

    ATLANTA, GA, June 05, 2015 /24-7PressRelease/ -- There are several reasons why you might consider filing for Chapter 7 bankruptcy for your business. Your business may be burdened by a crippling debt and no amount of debt reconstruction can help it recover. Also, when your business has no significant assets and reorganization is not sufficient to give it a new lease on life, it may be time to file for Chapter 7 bankruptcy.

According to Clark & Washington, long-time bankruptcy attorneys in Atlanta, filing for Chapter 7 gives business owners a chance to liquidate their business at no additional expense to their shareholders. Under the guidance of a trustee, the company's creditors will be paid from the sale of the remaining assets according to the priority of their claim. Assets can include business equipment and furniture as well as client lists.

With a Chapter 7 bankruptcy filing, any unpaid debts after the liquidation sale are discharged. The business will cease to exist. If no one buys the assets of a business during the liquidation sale and the trustee is not interested in them, the law allows the business owner to buy back the assets of his or her own business.

The cost for a Chapter 7 filing usually starts at around $2,000, depending on the state where you are filing. If there are a number of creditors who contest the bankruptcy filing, the cost can be considerably higher.

Get the expert advice you need to file for bankruptcy in Atlanta successfully. The bankruptcy lawyers at Clark & Washington have helped thousands of individuals in the Southeast regain a firm financial footing and a fresh start on life. Call today and see what they can do to help you in your bankruptcy filing.

To learn more about their services, go to http://www.cw13.com.

Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information, visit http://www.cw13.com

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