Riverside Chapter 11 Bankruptcy Attorneys
Our Tenacious Legal Team Can Help Tackle Your Debt
At the Kostopoulos Bankruptcy Law, we know that financial success doesn’t always last. Countless people all over the country find themselves dealing with overwhelming debt through no fault of their own.
From economic recessions to personal accidents resulting in massive medical bills, there are a variety of scenarios that can make salvaging your finances seem like a daunting and impossible challenge.
That is why our compassionate and highly knowledgeable Chapter 11 attorneys are committed to helping clients of all backgrounds find debt relief solutions so they can keep their property and companies.
To learn more about whether Chapter 11 bankruptcy is right for you, please call (877) 969-7482 today for a case consultation.
Chapter 11 Bankruptcy Explained
Chapter 11 bankruptcy is a debt relief solution that businesses and individual debtors can use to secure additional time to repay their creditors. This is usually the best option for businesses that aren’t ready to completely shut down and want to take a shot at trying to emerge from their financial struggles stronger and profitable.
Under a Chapter 11 bankruptcy, business debtors can restructure and negotiate debts with creditors and create a reorganization plan that allows the business to continue operating through the bankruptcy process. However, the business debtor loses control over major decisions. Instead, the bankruptcy courts decide whether the business can sell real property, enter into or break a lease, or shut down or expand operations.
Although Chapter 11 bankruptcy cases are usually filed by partnerships, corporations, and limited liability companies, individuals can also file for Chapter 11 if their debt or income exceeds the limits for Chapter 7 and Chapter 13 bankruptcies.
What Are the Advantages of Filing a Chapter 11 Bankruptcy?
Some of the benefits of filing for Chapter 11 include:
- Debtors are protected from creditor harassment and collection
- Creditors are assured payment from the debtor
- Debtors can submit a reorganization plan to the bankruptcy court for approval
- Business debtors maintain the right to acquire earnings from the business but still must prioritize paying off the business's debts
Why Businesses & Individuals in Riverside Choose The Kostopoulos Bankruptcy Law
Kostopoulos Bankruptcy Law has handled thousands of bankruptcies in Riverside and throughout CA, helping clients take control of their financial future. Our reputable attorneys can help you negotiate with creditors, construct a repayment plan, represent you in bankruptcy court, and guide you through each phase of the process.
Is your business facing insolvency? Are you ineligible for a Chapter 7 or 13 bankruptcy? If so, we urge you to get in touch with our Riverside bankruptcy firm today so we can take a look at your case to see if you qualify for Chapter 11. Call (877) 969-7482 or contact us online for a case consultation.