The practice is expanding its expertise to cover all types of bankruptcies. Through this update, struggling entrepreneurs have a better chance of keeping their business afloat while managing their debt more effectively.
More information about Jafri Law Firm is available via https://www.jafrilawfirm.com/practices/bankruptcy
This legal option is especially ideal for those whose ventures suffered because of the current pandemic. With the law firm’s guidance, clients can reduce their debt load or get more favorable payment terms.
The current pandemic is a once-in-a-decade event that has caused major difficulty to the business sector. As people tightened their belts, entrepreneurs saw their sales dwindle and their debts balloon.
However, filing for bankruptcy gives businesses a second lease on life. Jafri Law Firm consults closely with each client to understand their circumstances, and then recommends the bankruptcy type that best applies to them.
Chapter 7 bankruptcy is designed to liquidate assets, with most debts being discharged after proceeds are distributed. Jafri Law Firm will assist with the means test, which determines which assets are exempted or not from liquidation.
Chapter 11 or 13 bankruptcy, on the other hand, entails restructuring loans and promising to repay them in regular tranches. Personal assets will not be sold, since a business is treated as a separate entity from the owners.
To help prospective clients better understand their bankruptcy options, the legal expert offers a no-risk, no-obligation consultation. To book a session, people simply need to phone the office or use the online booking form on the website.
About Jafri Law Firm
Jafri Law Firm has a simple mission: to make legal service attainable and affordable for all. In addition to bankruptcy proceedings, its other practice areas include family, employment, and antitrust law. For the firm’s excellent service, it has received a Client’s Choice Award for 2020 from the review platform AVVO.
A spokesperson says: “Jafri Law Firm will take on complex litigation for individuals and companies. We never shy away from a new problem or challenge. We are client-focused and client-centric.”
Interested parties may visit https://www.jafrilawfirm.com/practices/bankruptcy if they need further details about the practice and its offerings.
Jafri Law Firm
Jafri Law Firm
50 Evergreen Row
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Edition Biz journalist was involved in the writing and production of this article.