Chapter 11 Bankruptcy In Northbrook
Is Your Business Struggling? We Can Help!
It is very difficult to keep a business running successfully throughout the years, especially when the economy takes a toll on your operations. Regardless of what circumstances have led to your business being in trouble, bankruptcy may be the answer if you have tried everything else.
- Advantages & Drawbacks Of Chapter 11 Bankruptcy
- Who Qualifies For A Chapter 11 Bankruptcy?
- Individual Chapter 11 Bankruptcy Filing
- Duties Of A Debtor During A Chapter 11 Bankruptcy
When you are drowning in debt and don’t know how to help your business survive, you may want to speak with a Northbrook Chapter 11 bankruptcy attorney about filing for Chapter 11 bankruptcy. The Bach Law Offices, Inc. can work with you to determine if your business is viable and worth saving
Filing For Business Bankruptcy
The purpose of Chapter 11 is to allow a business with potential to succeed to submit a reorganization or repayment plan to get control of their debt. This allows you to repay your creditors in a more manageable time frame or with more manageable payments. Chapter 11 filings can be confusing, which is why hiring a Northbrook Chapter 11 bankruptcy attorney to guide you is important.
It may be appropriate for the following parties to file for Chapter 11:
- Real estate investors
Benefits Of Filing For Chapter 11 In Northbrook
After trying so hard to get on top of your debt, it can seem like you are giving up by filing for bankruptcy. However, the opposite is true, as you are giving your business a renewed chance to succeed.
Our firm is dedicated to providing you with dedicated legal counsel and helping you navigate the complications of filing for bankruptcy to protect your business. We are here to ensure you understand the steps you are taking, while helping you avoid the stress involved with reorganizing and reducing business debt.
A few benefits of filing for Chapter 11 include:
- Allows you to sell assets without liens
- May release you from specific leases
- Halts lawsuits and collection actions
- Allows you to have an extended payout period
- Allows you to eliminate or reduce tax penalties