Chapter 11 Bankruptcy
A Chapter 11 bankruptcy is sometimes referred to as business reorganization bankruptcy. Unlike a Chapter 7 bankruptcy that liquidates assets and discharges debts, and a Chapter 13 bankruptcy that allows an individual to create a structured repayment plan, a Chapter 11 bankruptcy allows a business to reorder its debt, and maintain its continued operation and success, by providing protection against creditor harassment and repossession.
To discuss how Chapter 11 bankruptcy can be used to restructure your business debt and protect cash flow, contact Bird & Van Dyke in Stockton by calling 209-390-8877.
Stockton Business Bankruptcy Attorneys
Under the supervision of the court, a business partnership or corporation that has filed for Chapter 11 bankruptcy may generally continue business operations. This provides an opportunity to reorganize and negotiate debt repayment with creditors. Creditors may be forced to agree to reasonable settlement terms by the bankruptcy court, even if they have been previously unwilling to make such arrangements.
Chapter 11 bankruptcy can also be used by individuals who do not want to lose assets that would be at danger of liquidation in a Chapter 7 bankruptcy or have too much debt to be eligible to file for Chapter 13 bankruptcy.
Local Attorneys Providing Experienced Counsel
Contact Us To File For Bankruptcy In Manteca
To learn about how Chapter 11 bankruptcy can be used to save your small business, schedule a free consultation today with our Stockton business bankruptcy lawyers. Use our online contact form to tell us about your situation. Call 209-390-8877 to reach our law office in Stockton, California. Call 209-390-8834 to contact our law office in Tracy, California.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.