Menu
Call us Today to Set Up
A Free Case Evaluation
Search
Call us Today to Set Up A
Free Case Evaluation
${site.data.firmName}${SEMFirmNameAlt}
Take Control of Your Financial Future
${site.data.firmName}${SEMFirmNameAlt}
Get The Fresh Start You Deserve
973-323-2953
Contact Us
View Our Practice Areas

Chapter 11 Bankruptcy Archives

Protecting Yourself When Your Sole Proprietorship Closes

Protecting Yourself When Your Sole Proprietorship Closes v2.jpgYour small business represents the culmination of hard work, innovation, and your hopes for a bright future. Unfortunately, taking this risk to make it on your own can come with hiccups. In fact, many small business owners find themselves struggling with debt as part of their journey toward independence and success. At Levitt & Slafkes, P.C., we celebrate sole proprietorships and take pride in helping small business owners obtain much needed debt relief.

Utilizing Chapter 11 Bankruptcy to Save Your Small Business

Utilizing Chapter 11 Bankruptcy for Your Small Business v2.jpgIf you are an owner of a small business, you understand the incredible work, the sacrifices, and the emotional investment involved in making your business successful. It is part of your American dream-something of your own that you hope will be part of your legacy. But small businesses are risky, which leads to some taking on far more debt than they can afford to repay. While some businesses may choose to shut down and seek relief under Chapter 7 bankruptcy, some small business owners choose an alternative of Chapter 11 relief.

Can I File for Personal & Business Bankruptcy Simultaneously?

Can I File for Personal & Business Bankruptcy Simultaneously.jpgAlthough we all know that dealing with money and numbers are supposed to be a logical, black and white process, sans emotion, few of us can act that way-whether we have lots of cash, or a dwindling supply. Financial success can lead us to feeling euphoric, while financial woes send us into deep despair. Sometimes our emotions are also what cause us to use poor judgment when spending, investing, or making business decisions.

Understanding the Different Types of Bankruptcies

Thumbnail image for Understanding the Different Types of Bankruptcies.jpgUnless you have filed for bankruptcy previously or are an experienced bankruptcy attorney, you probably have many questions about the differences between Chapter 7, Chapter 11, and Chapter 13 bankruptcies, whether one would be right for your situation.

Bankruptcy Options for Small Business Owners

If your small business is struggling with debt, filing for bankruptcy might be a good choice. Small business owners have several options available to help eliminate debt. The best option is to consult an attorney to discuss all the alternatives available based on your unique needs and circumstances. 

New Bankruptcy Billing Guidelines

Big law firms charging big legal fees in Chapter11 bankruptcy cases are getting some bad news this November, 2013. The United States Trustee Program (USTP) has established new guidelines for setting appropriate legal fees to be charged in larger Chapter11 cases. For purposes of applying the guidelines, larger Chapter11 cases are those that include "$50 million or more in assets and $50 million or more in liabilities, aggregated for jointly administered cases and excluding single asset real estate cases as defined in 11 U.S.C. ยง 101(51B). Although the guidelines are not mandatory, the USTP is encouraging bankruptcy courts across the country to incorporate the guidelines in their local rules of bankruptcy procedure. Additionally, USTP lawyers intend to enforce and defend the guidelines in bankruptcy courts and through appeals when needed. What does this mean to you? If your company files a large Chapter11 bankruptcy case, it is likely that the legal fees will not skyrocket as they have in past cases. Attorneys will be required to disclose billing rates in other specialties, budgets will be created before the case is filed and any expense overruns will need to be justified. In short, transparency in all legal fees will be required in large Chapter11 cases. We are bankruptcy lawyers who know how to make a difference in your financial situation. We have experience you can rely on and we care about your results. Contact our New Jersey law firm online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation with an attorney at Levitt & Slafkes, PC.  

Our bankruptcy attorneys will help you escape debt and
face the future with optimism.

Email Us For A Response

Begin Your New
Financial Life
Today

Office Location

Levitt & Slafkes, P.C.
515 Valley Street, Suite 140
Maplewood, NJ 07040

Phone: 973-323-2953
Fax: 973-313-1240
Map and Directions

google map
<#if page.ID == "Contact">