Chapter 11: What It Is and How It Works

The success of our society depends in no small degree on the prosperity of businesses and many are having a rough time in the present economic downturn. It is important that businesses survive and in order to do so, some have found it necessary to file a Chapter 11 bankruptcy.

Chapter 11 Explained

A Chapter 11 bankruptcy is a debt reorganization process involving a business. The business can be small, medium or large and can include partnerships, sole proprietorships or corporations. In a situation that involves real estate matters, it can be used to catch up on past due payments, it can afford you time to sell property which may have equity in it or if there are back taxes owed that need to be paid off.

A Chapter 11 can enable you to keep your business running while gaining more control of financial issues. Chapter 11 bankruptcies can get complex as many financial details need to be addressed, especially in circumstances where large amounts of money and debt are involved. Challenges from creditors may come up and time frames for the bankruptcy must be met. Reports need to be turned in on a schedule and reorganization in many areas may need to take place.

Get Help From Those with Experience

If you are in the Sacramento or surrounding area and need help with filing a Chapter 11 for your business, you will need help from an experienced San Diego bankruptcy lawyer. At San Diego Bankruptcy Pros, we have this experience. We have helped thousands of individuals with bankruptcy and debt relief throughout the years and take pride in being able to bring relief and reduce stress in peoples' lives. Take advantage of our offer and come in for a free initial consultation. We will give you an evaluation of your particular business situation and give you guidance as to what your best legal solution is.

Contact a San Diego bankruptcy attorney in our office for an appointment today.