Chapter 11 Bankruptcy: A Fresh Start for Your Business
In today's challenging economic climate, businesses of all types and sizes are struggling like never before. Many business owners are choosing to save their companies by filing Chapter 11 bankruptcy.
Is bankruptcy a strategy that makes sense for your business? The attorneys of Moffett Law Firm, P.L.L.C., in Tupelo and Amory, Mississippi, will review the specifics of your case and advise you of your options.
The Advantages of Filing Chapter 11
Filing Chapter 11 bankruptcy allows business owners to retain their assets, and continue doing business under the supervision of the court for the benefit of the creditors. Often referred to as a reorganization bankruptcy, a Chapter 11 can be filed on behalf of sole proprietors, partnerships and corporations.
Chapter 11 allows companies to reorganize their secured debts, get rid of their unsecured debt and short term debt, and emerge from bankruptcy as a stronger business. Unlike a Chapter 13 bankruptcy, there is no limit on the amount of debt that can be restructured in a Chapter 11 bankruptcy. That is why so many large corporations use Chapter 11 as a tool to improve their monthly cash flow by reducing their total debt load.
You can continue to control and run your business and manage your assets after filing a Chapter 11 bankruptcy. You are required to file monthly reports on your operations. We can help you file Chapter 11 and administer reporting throughout the life of the plan.
Put Our Experience on Your Side
Our law firm has filed Chapter 11 bankruptcy for businesses worth many millions of dollars. We have the knowledge and capability to help you through the reorganization process. To learn more, please contact our law firm to schedule a complimentary consultation with an experienced bankruptcy lawyer. Call 888-341-7044.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
