Our company was recently evicted and we have too many debts. A lawyer said we can file for Chapter 7 bankruptcy and the business will go away, but so will the debts. We have around 50,000 in inventory, and around 150,000 in Debts, mostly loans from banks, but some taxes too. Can we file for Chapter 7 Business Bankruptcy? Also, do we need to do credit counseling beforehand or is that only for individuals?