Homebuilder Files for Chapter 11

Orleans Homebuilders, Inc. has recently filed for Chapter 11 bankruptcy protection. The company is filing for bankruptcy protection because a $350 million senior secured revolving credit loan agreement had matured and it was unable to reach an agreement to extend the credit facility or obtain a replacement facility. The filing does not include the company's mortgage services subsidiary which provides services for customers.

Filing for bankruptcy or bankruptcy protection is not an easy process, emotionally or legally. You need to understand the situation you are in and how to properly file for bankruptcy so that this matter is resolved in the best way possible. You do have options and rights that should be protected during this difficult time.

With the help of a bankruptcy lawyer, you will be able to move forward with you situation and get your life back together. A bankruptcy attorney will know what to expect with your situation and will guide you in deciding what to do. If you or someone you know is facing a bankruptcy situation then you will want to contact a bankruptcy attorney today to begin discussing the details of your case so that you can work towards resolving this matter in a timely manner.