Chapter 11 bankruptcy is a debt solution for businesses who are overwhelmed by leases, loans and contracts and provides time for a business to reorganize itself and negotiate payment plans instead of closing up shop. It’s also a viable debt solution for individuals who have valuable assets that might not be considered exempt under chapter 7 bankruptcy, but who have more debt than chapter 13 bankruptcy allows.
Chapter 11 bankruptcy tends to be quite a bit more complicated than its counterparts, and to determine whether or not chapter 11 bankruptcy is best for you or your business, you need to consult with an experienced bankruptcy lawyer who can provide you with sound legal advice regarding your finances or the finances of your business.
Even if your creditors oppose a settlement, the bankruptcy court can enforce settlement terms in order to provide you or your business with debt relief. At the Kalra Law Firm, we are experienced in the area of chapter 11 bankruptcy and can assist you with filing the necessary paperwork to ensure your valuable assets are protected and your debts are wiped clean or renegotiated in a way that is favorable to you.
Don’t let cumbersome debts close the doors of your business or leave you with little to provide for the needs of yourself and your family. Call the Kalra Law Firm today to schedule an appointment to discuss how bankruptcy can help you start over financially and live the debt free life you’ve always wanted. (310) 325-9012.