Speed: weeks, not a year. Privacy: no federal docket. Control: you choose the assignee. Cost: a fraction of bankruptcy administration. For a small California business with more debts than future, an assignment for the benefit of creditors is usually the cleaner funeral.
The creditors kit explains when it fits and when it doesn’t.
Don’t pay a lawyer to find out what your rights are. Go to JusticePrompt.com and get the free kit. No credit card. No upsell. Just the documents and the law.