Helping Businesses Get Bankruptcy Protection
Running a business in today's economy can be tough. Unfortunately, some businesses are not able to catch up with their debts and need bankruptcy help. If you believe you could continue to operate your business if you could only eliminate certain lingering debts, Chapter 11 bankruptcy may be a good option for you.
At the Law Offices of Scott R. Schneider, I help Long Island businesses recover from the threat of overwhelming debt with the help of the Chapter 11 business reorganization. Contact me to schedule a free consultation to discuss whether your business would benefit from filing for Chapter 11 bankruptcy.
Giving Companies Time to Reorganize Their Finances
Filing for Chapter 11 bankruptcy puts a stop to negative creditor actions against businesses so they can operate as usual while getting back on their feet under the supervision of the bankruptcy court. Chapter 11 may be your best option if are you facing damaging situations like the following:
- Freezing of business bank accounts
- A threat of eviction from business premises
- A lawsuit by a supplier or other creditor
Chapter 11 is a unique bankruptcy procedure in that creditors have an opportunity to vote on the proposed repayment plan. Putting together a plan that can muster a majority of the votes is an involved process that requires sharp analysis, and practical experience helps a great deal.
Because of these unique factors, not every bankruptcy lawyer regularly handles Chapter 11 cases. Throughout my career as an attorney, I have helped many New York business clients reorganize their debts with the help of Chapter 11 and can offer you the benefits of almost 20 years of experience.
Exploring a Full Range of Commercial Bankruptcy Options
Chapter 11 is not the only possible type of bankruptcy for businesses. If your company is so far in debt that you cannot continue to operate, a Chapter 7 bankruptcy may be the best option for orderly liquidation of business assets.
You should also note that certain small businesses, particularly those that are owned by an individual or family, qualify for reorganization under the Chapter 13 bankruptcy. Contact me to discuss the potential consequences of all of your business bankruptcy options, including Chapter 11 bankruptcy.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
