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A Chapter 11 bankruptcy is for businesses and corporations looking to reorganize or restructure debt and credit while keeping their business open. Although it is possible for an individual to file for a Chapter 11 bankruptcy, that person would need a large debt with large amounts of equity.
A committee, often comprised of the top creditors to the business, will review and approve the reorganization. The skills of our attorneys at Southwell & O'Rourke P.S. are invaluable for this reason. We'll fight to ensure the committee is doing what is in the best interest of your business.
A Chapter 11 bankruptcy is extremely complex and can take a long time. However, your business can often stay operational - unlike a Chapter 7. An automatic stay is put into place to prevent further debt collection while your reorganization is in the process.
We also would advise you in matters related to:
Credit card debt
Lawsuits and judgments
Let our experienced and dedicated team help you with your financial hardships. We have the knowledge to determine if bankruptcy is the right option for you. Visit our office for a discussion and get suitable advice, so that you are able to get over your financial hardship.