Do Not Make Your Financial Situation Worse Than It Has To Be: Hire A Chapter 11 Bankruptcy Lawyer

  Deciding to file bankruptcy is often considered to be a last resort solution to a long standing financial situation. One of the mistakes that is often made by individuals and business owners is waiting too long to file. They use resources that can be better utilized elsewhere while trying to make payments to creditors and keep their businesses operating smoothly. Another mistake is that they often try to file for bankruptcy without hiring a Chapter 11 bankruptcy lawyer. There… Read More >

Small Business Facing Financial Troubles Should Consult a Small Business Bankruptcy Lawyer

Is your small business in severe financial trouble? Have you asked yourself if bankruptcy would help? There are several questions that you should ask yourself before you begin the process. Consulting with a small business bankruptcy lawyer will also give you the guidance and information you need. What Type Of Business Do You Have? A business that is classified as a partnership or a corporation is a separate entity from the business owners or the shareholders. This means that if… Read More >

What Are The Bankruptcy Rules Of Procedure?

There are several duties that a debtor must be in compliance with when they decide to file for bankruptcy. These bankruptcy rules of procedure for debtors are known as the Federal Rule of Bankruptcy Procedure 4002. The rules provide additional details of the debtor’s duties once the petition for bankruptcy relief is filed. The Debtor Must Attend an Examination The court requires debtors to attend an examination. This examination or meeting is a 341 meeting. It coordinates with Section 341… Read More >

How Bankruptcy Chapter 11 Works

Individuals who want to know how bankruptcy Chapter 11 works should know that this form of bankruptcy is typically reserved for businesses, but individual debtors have also filed Chapter 11 before. Many businesses experience highs and lows. When a business accumulates more debt than it is able to pay off, the business may file Chapter 11. What Is Chapter 11? This is a type of business bankruptcy that allows a company to undergo a structured reorganization. During this reorganization, bankruptcy… Read More >

The Reasons Why a Business Needs a Chapter 11 Bankruptcy Attorney When Trying To Reorganize Debt

When a business is having difficulty meeting its obligations financially, the owner may choose to close the business. This is considered a Chapter 7 bankruptcy. However, there are other business owners who want their places of business to remain open.  They choose a bankruptcy filing that will allow them to reorganize the debt instead. This is known as a Chapter 11 bankruptcy. Chapter 11 bankruptcy is more complex than Chapter 7. Business owners should consult with a Chapter 11 bankruptcy… Read More >