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Janet K. Hong and Derek Hong are the founding partners of Hong Law, PLC

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Home  >  Marion  >  Business Bankruptcy

Marion Business Bankruptcy

While many individuals file for bankruptcy, businesses can also utilize this process to achieve much-needed debt relief. For many businesses that accrue debts because of start-up costs or other expenses that arise from day-to-day business, this can be a beneficial option, especially when debts become unmanageable. Depending on a business’s circumstances, one of the many forms of bankruptcy available to businesses may be able to help the business escape its debts.

3 Options

As a business manager or owner, having a large amount of debt can be overwhelming and leave you worried about both you and your business’s future. Fortunately, there are many debt relief options available for businesses in debt, including:

  • Chapter 7 Small Business Bankruptcy
  • Chapter 11 Large Business Bankruptcy
  • Chapter 12 Farm Bankruptcy

While these forms of bankruptcy can be particularly helpful for business owners, understanding which one is the best for your business and its particular situation can be difficult. Fortunately, a legal professional can help you evaluate your situation and find out which debt relief option is best for you.

Contact Us

Whether you decide to file for bankruptcy or discuss other potential debt settlement options, you can learn more about these options by speaking with the experienced attorneys of Hong Law, PLC. Call (319) 294-5853 to learn more about the services that we offer business owners who are going through financial difficulties and considering bankruptcy. We will help you evaluate your debt situation and find out the most efficient way to get rid of these burdensome debts.

Iowa City and Coralville Office Location: 845 Quarry Rd #130
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office