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https://www.jafrilawfirm.com/practices/bankruptcy
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These Armonk Bankruptcy Attorneys Help Local Businesses Reorganize Or Liquidate Jafri Law Firm has revamped its bankruptcy filing service to offer you a lifeline. Through this offering, you have a better chance of keeping your business afloat while managing your debt more effectively. This offering is especially ideal if your venture suffered because of the current pandemic. With the law firm’s guidance, you can reduce your 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, you likely saw your sales dwindle and your debts balloon. Chapter 7 bankruptcy is designed to liquidate your assets, with most of your debts being discharged after proceeds are distributed. Jafri Law Firm will assist you with the means test, which determines which of your assets are exempted or not from liquidation. Chapter 11 or 13 bankruptcy, on the other hand, entails restructuring your loans and promising to repay them in regular tranches. Your personal assets will not be sold, since your business is treated as a separate entity from you, the owner. Learn more by visiting https://www.jafrilawfirm.com/ practices/bankruptcy