San Gabriel Bankruptcy Attorney Jeffrey Hsu Gets Results For Business Bankruptcy Clients
Recently I, Bankruptcy Attorney Jeffrey Hsu of JCH LAW FIRM, successfully filed a bankruptcy for members of an LLC faced with personal guarantees related to a retail business. While some bankruptcy attorneys recommended that they file for chapter 7 corporate bankruptcy (I believe those attorneys were hoping to justify the generation of additional attorney’s fees), I act with integrity when dealing with clients - meaning I am honest and professional. Therefore, I did not advise the clients file an unneccessary corporate bankruptcy where the real issues at hand dealt with the liabilities stemming from the personal guarantees.
The clients were satisfied and saved thousands in out of pocket expenses had a corporate chapter 7 also been filed. Because a corporate bankruptcy does not result in a discharge of debts, there is generally little incentive to file a chapter 7 corporate case when the real issues relate to personal guarantees against the members of the LLC in an individual capacity. The limited liability offered to members does not shield the individual liability when personal guarantees are extended to the creditor.
Thus, when thinking about bankruptcy, remember that your bankruptcy attorney should not only be competent - your attorney should also be honest. If your attorney is well established, well known, and a supposed expert in the field, your attorney should be able to break down fundamental legal concepts and explain it to you so that you understand. If your bankruptcy attorney says something is either too complex to explain, or you do not understand the explanation, either your attorney does not know the law, or even if the attorney does know the law, if it can’t be explained to you, how do you think the attorney will explain the situation to the trustee or judges in bankruptcy court?
At JCH Law Firm, we are a bankruptcy firm that specializes in the practice of bankruptcy law for all persons involved in the bankruptcy process. We cater to the San Gabriel Valley Community.
We file Alhambra bankruptcies, Monterey Park bankruptcies, El Monte Bankuptcies, Rosemead Bankruptcies, Altadena Bankruptcies, Arcadia Bankruptcies, City of Industry Bankruptcies, Covina Bankruptcies, Diamond Bar Bankruptcies, Duarte Bankrutpcies, Pasadena Bankruptcies, Glendora Bankruptcies, Hacienda Heights Bankruptcies, Monrovia bankruptcies, Montebello bankruptcies, Pomona Bankruptcies, Rowland Heights bankruptcies, San Gabriel Bankruptcies, Temple City Bankruptcies, Walnut Bankruptcies, Whittier Bankruptcies, and more.
Contact us for a free consultation at 626-999-5959. Our office is located at 1031 S. Garfield Ave., Alhambra, CA 91801.