ODOM LAW OFFICES specializes in representing small businesses that are - - seeking to avoid bankruptcy. - seeking to determine if filing for bankruptcy is wise for them. - seeking to plan for the filing for bankruptcy. - in need of filing for bankruptcy. Your business is in trouble: how do you determine if bankruptcy is necessary or helpful for your situation? First, is the business a corporation, a partnership, or a proprietorship? - Corporations, limited liability companies and partnerships are legal entities separate from their shareholders or partners. They can file Chapter 7 or Chapter 11 bankruptcy in their own right. - Proprietorships are just an extension of the owner: they can't file bankruptcy alone: the proprietor must file bankruptcy, since the assets and the liabilities of the business are really just one form of assets of the proprietor. The individual owner may file Chapter 7, Chapter 11 or Chapter 13 (if the debt limits are met). ... read more