At Sheehan Law Firm, we help small businesses, partnerships and individuals file for bankruptcy. Our Chapter 11 attorneys have helped many clients find the debt-relief solutions they need to keep their businesses running and protect themselves from creditors. We want to help you and your business, too.
What Is Chapter 11 Bankruptcy?
This type of bankruptcy is known as a "reorganization" and provides more flexibility than other bankruptcy chapters. Although it is often called "business bankruptcy," it can also be useful for individuals who have too much debt to qualify for Chapter 7 or 13.
Chapter 11 can offer many different benefits. It can potentially:
- Provide time to catch up on overdue real estate payments
- Give property owners a chance to sell a piece of real estate with equity
- Help business owners deal with delinquent taxes
- Aid in other situations where a business owner wants to stay in business while catching up on past-due bills or debts
Chapter 11 works by helping debtors create court-approved reorganization and repayment plans. In essence, these plans are contracts with your creditors, detailing how, when and from where they will be repaid. As experienced bankruptcy attorneys, we can assist you in crafting a plan that adheres to the Bankruptcy Code's strict requirements while still meeting the financial needs of your business.
Our law firm can also help you navigate the complex fiduciary responsibilities of being a debtor-in-possession or the trustee of the business and all its assets. We will counsel you about rejecting leases and contracts, avoiding liens, extending windows of time for repayments and all other issues involved in business bankruptcy.
Free Consultation With A Business Bankruptcy Attorney
Schedule a free initial consultation about Chapter 11 bankruptcy by calling the lawyers of Sheehan Law Firm at 228-875-0572, or contact us online today.