Riverside Chapter 11 Bankruptcy Attorneys
Our Tenacious Legal Team Can Help Tackle Your Debt
At The Bankruptcy Law Firm, 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 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 (951) 899-2100 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 bankrupcty, 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 Across Riverside Choose The Bankruptcy Law Firm
The Bankruptcy Law Firm has assisted thousands of bankruptcy clients who
want to 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 (951) 899-2100 or
contact us online for a case consultation.