This announcement was prompted by the devastating economic impact that the current pandemic has dealt to businesses. Under the guidance of the practice, clients can get forgiveness for financial obligations or negotiate better repayment terms.
More information about Jafri Law Firm is available via https://www.jafrilawfirm.com/practices/bankruptcy
This newly formed division caters specifically to small businesses, independent contractors, and sole proprietors seeking a fresh financial start. The firm can entertain clients 24/7 and will assign a lawyer who will provide hands-on services.
As foot traffic plummeted as a result of lockdowns, many enterprises saw their profits dip considerably. This lack of cash also meant that they fell behind on business loans, forcing many to shut down.
However, closing a business isn’t the only option, as they can also file for bankruptcy to continue operating. Jafri Law Firm is headed by Attorney Farva Jafri, whose team of lawyers has extensive experience in such cases.
The practice is well-versed in all three major commercial bankruptcy types. Chapter 7 involves liquidating assets in order to pay off as many debtors as possible before shuttering an enterprise.
However, clients may also choose Chapter 11 bankruptcy to keep their business operating. Under this arrangement, debt will be restructured and certain loans will be written off, thus giving owners a second chance.
Sole proprietors, on the other hand, can apply for Chapter 13 bankruptcy. It entails reorganizing both business and personal debt, with the promise of paying back loans in tranches.
About Jafri Law Firm
Jafri Law Firm is a respected practice composed of trial lawyers, crisis managers, and problem solvers. It specializes in complex litigation for individuals, SMEs, and large-scale businesses. Among its practice areas are appeals, family law, employment and FLSA, and antitrust cases.
A spokesperson says: “As a national law firm, we aim to equip our clients with powerful tools and solutions. From conflict resolution during pre-litigation to understanding their greatest defense, we ensure that we understand all angles of our client’s problems in order to empower them in and out of the courtroom.”
Interested parties may visit https://www.jafrilawfirm.com/practices/bankruptcy if they need further details about the firm and its services.
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 Times of Chennai journalist was involved in the writing and production of this article.