Chapter 11 Bankruptcy
Have you built up a high amount of personal debt or has your business built up debt that it cannot pay off? Did you need money to get your business off the ground, but your profits have not been enough to cover your mounting debt?
You may have a legal option in the form of a Chapter 11 bankruptcy. At CBG Law Group, PLLC, we can help your business, and in some cases help you personally, pay off your debt with a Chapter 11 and plan for future success.
Chapter 11 Can Help Save Your Business
If your small business is struggling to maintain itself under mounting debt, you may want to consider filing for Chapter 11 bankruptcy. Under Chapter 11, a business is permitted to continue its operations following a restructuring and reorganization of its financial situation. The debtor company must submit a restructuring/liquidation plan to both the court and the creditors for approval.
If the restructuring plan is approved, the company may be continually monitored by the courts to ensure compliance with the plan. If you are not ready to quit on your business, we can help you explore your options and decide if bankruptcy is a viable option.
Chapter 11 Bankruptcy Requirements
The process involved with Chapter 11 personal or business bankruptcy is far more complicated than either Chapter 7 or Chapter 13 personal bankruptcy.
In fact, you or your business will have to be involved in the process for several years in most cases, and you will have to file statements with the U.S. trustee’s office. You will also have to make quarterly payments to the U.S. trustee’s offices. We can help you through all of these steps and explain each option available to you.
Meet Directly With Our Lawyer
Before you decide on a Chapter 11, you should meet with an experienced lawyer to discuss whether or not it is a viable option, and to ensure you understand what the process entails and what will be expected of you, or your business. At our firm, you will always work directly with our attorney, not a paralegal or legal assistant.
Contact Our Firm
If you or your business is growing deeper in debt, you may be able to save your assets by filing for Chapter 11 bankruptcy. Call our Bellevue, Washington, law office at 425-223-4870 or use our online form. We can help you understand your legal options for debt relief.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.