Chapter 11 Bankruptcy For Individuals, Partnerships And Corporations
Chapter 11 is often referred to as a reorganization because it assumes a debtor’s ability to outline a future plan of payment for existing debts. In Chapter 11, your debts are not cleared, but you are given the opportunity to find financial relief by consolidating your debts into manageable monthly payments.
Individuals, partnerships and corporations may all file under Chapter 11 bankruptcy with varying needs and requirements pertaining to each. Call The Law Offices of Jonathan Stone in Hackettstown, New Jersey, today to discuss your bankruptcy options with a lawyer. Depending on your financial big picture, one of these types of bankruptcy may be the most appropriate: Chapter 12 Bankruptcy, Chapter 11 Bankruptcy, Chapter 13 Bankruptcy or Chapter 7 Bankruptcy.
Breathe New Life Into Your Business
Chapter 11 is especially attractive to businesses that are unable to cover their expenditures and pay off creditors and existing debt because it offers several beneficial options.
Aside from designing a more affordable system of payments, businesses are able to acquire new loans, the terms of which will not be a financial burden moving forward.
If your business is having difficulty staying afloat, you have options. With a series of new loans and a complete restructuring of your current payments, the scaffolding is in place for you to give yourself the second chance that the law allows.
Schedule A Free Consultation With A Bankruptcy Attorney
To make the most of your free initial consultation, bring documents such as unpaid bills. If this represents a burden, however, do not let that stop you. Talking to an attorney can give you a clear idea of whether Chapter 11 bankruptcy is likely appropriate for you. Call The Law Offices of Jonathan Stone at 800-491-5622 or complete the intake form on the Contact page.
We are a federally designated debt relief agency, proudly helping people file for relief under the Bankruptcy Code.