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

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Home  >  North Liberty  >  Business Bankruptcy

North Liberty Business Bankruptcy Attorneys

Facing significant debt in business is a common issue, whether a company is just starting or has been established for years. However, sometimes debts reach a point at which they may become unmanageable for a business. In such situations, filing for business bankruptcy can provide a crucial line to financial stability and reorganization for the long-term health of the company.

Pursuing business bankruptcy on your own can be a challenge. That’s why many turn to the assistance of qualified bankruptcy attorneys for help in these situations. If you are considering business bankruptcy in North Liberty, the attorneys of Hong Law, PLC know how important this step can be for your business, and we work closely with business owners to ensure that everything is managed appropriately.

Types of Business Bankruptcy

Depending on the type of business you own, a number of bankruptcy options may be available. There are three basic forms of business bankruptcy, and they include:

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

For each of these forms of bankruptcy, various rules and regulations will stipulate your own bankruptcy process, but the important thing to remember is that filing for bankruptcy does not mean that you failed. Rather, it shows a willingness to take the steps needed to move on to a better financial future.

Contact a Business Bankruptcy Lawyer in North Liberty

If your business is experiencing financial difficulties and you are thinking about filing for bankruptcy, then the attorneys of Hong Law, PLC can help you. Contact our offices in North Liberty today by calling (319) 294-5853 and we can discuss your options with you.

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