Cambridge Chapter 11 Bankruptcy Lawyer
The chapters of the United States bankruptcy code offer several routes to debt relief for both individuals and companies that have become burdened with heavy debt. While Chapter 7 bankruptcy is available to both, it requires companies to cease operations immediately. Fortunately, there is a form of bankruptcy that allows companies to stay in operation while repaying debts: Chapter 11 bankruptcy.
What is Chapter 11 Bankruptcy?
Unlike Chapter 7 bankruptcy, in which a business must close while its assets are sold to repay creditors, Chapter 11 bankruptcy allows a business to stay open and operational while reorganizing and repaying its debts. After filing for a Chapter 11 bankruptcy, the court will develop a reorganization plan for the company that lists debts to be repaid, the debts that have been canceled, and the amount of money you will be expected to pay each month.
Before you appear in court to make your case before a bankruptcy judge, it is important to educate yourself about bankruptcy law and seek the knowledge and assistance of an experienced bankruptcy lawyer. To help meet the former need, we have provided articles with information on topics such as:
- The Benefits of Chapter 11 Bankruptcy
- Limitations of Chapter 11 Bankruptcy
- Chapter 11 Bankruptcy Eligibility
- The Chapter 11 Bankruptcy Process
Contact Us
If your business is struggling under the burden of excessive debt, filing for Chapter 11 bankruptcy may be the most effective way to reorganize and repay your debts while keeping your business up and running. To discuss your situation with an experienced legal professional, contact the Cambridge Chapter 11 bankruptcy lawyers of Joshua Spirn & Associates today at 800-975-5346.
