- 1). Determine which bankruptcy chapter your business should file under and confirm eligibility. Most businesses file for bankruptcy under Chapter 11, which is a reorganization of business debt that allows the business to continue operating. However, small businesses such as sole proprietorships, sometimes qualify under Chapter 13, which is also debt reorganization with a payment plan. All businesses can also file under Chapter 7, which is a total liquidation of assets; however, businesses typically do not file under Chapter 7 unless they also want to dissolve the business.
- 2). Locate the Florida bankruptcy court that handles business bankruptcies in your area.
- 3). Hire a bankruptcy attorney licensed in Florida who specializes in business bankruptcy to complete the bankruptcy petition and file it with the court on behalf of the business.
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