A Legal Ally For Chapter 11 Bankruptcy
If you are a small-business owner facing unmanageable debt, Chapter 11 bankruptcy may be your best option to get financial relief. Certain individuals may also qualify for Chapter 11 if their debts exceed the limit for a Chapter 13 bankruptcy.
Let the attorneys at Levitt & Slafkes, P.C., in Maplewood, New Jersey, protect your rights, inform you of your options and help you navigate the complicated Chapter 11 bankruptcy process. During your free initial consultation, we will explain the basics of Chapter 11 bankruptcy reorganization. Attorney Bruce Levitt has filed numerous Chapter 11 bankruptcies during his 30-year legal career.
Chapter 11 Affects Businesses, Individuals
Chapter 11 bankruptcy is available to businesses and individuals in need of debt relief. Here are some examples:
Business reorganization: When a business needs relief from debt pressures, a Chapter 11 bankruptcy may be the answer. It allows businesses to reorganize or liquidate assets under court supervision and protection. As a business owner, you can remain in business, reorganize debt and keep your business’s assets during this process. During the bankruptcy, the business is protected by and “automatic stay,” which stops creditors from collecting debts and taking legal action. A plan of reorganization is formulated for the business and voted on by creditors. If the plan is confirmed and successfully executed, the business can survive.
Personal bankruptcy: Chapter 11 is available to individuals whose debt exceeds the limit for qualifying for Chapter 13. Attorneys Bruce Levitt and Shelley Slafkes will assist you in finding the best debt solution after thoroughly examining your situation.
Get Answers From An Experienced Legal Team
Let our bankruptcy lawyers at Levitt & Slafkes, P.C. in Maplewood, New Jersey, focus on your financial situation so you can get back to focusing on what you do best — your business. Contact us by filling out the form online or by calling 973-313-1200. Our firm serves business owners across New Jersey. We offer free initial consultations. As a debt relief agency, we help people file for bankruptcy relief under the bankruptcy code.