Has your New York business been sued by a lender, contractor or supplier?
Our attorneys can best help you if you call us before a judgment has been entered…but even if that has already occurred, please reach out to discuss your options for relief from this nightmare.
Filing for bankruptcy creates an injunction, called an automatic stay, that prohibits creditors from continuing collection action against your business. This includes lawsuits and enforcement of judgments against the assets of the business. A business can file Chapter 11 bankruptcy, which is a reorganization and restructuring of its debts into a manageable payment plan that enables the business to continue operating. A Chapter 7 filing eliminates the debts entirely, and is an option if you feel you’d like to close up shop at this point.
Our experienced business bankruptcy attorneys can help you if your New York business is being sued! Contact us today!