San Fernando Valley Chapter 11 Bankruptcy Attorney

Chapter 11 - Bankruptcy for Business

With our current economic situation, many businesses are having difficulties making ends meet.  With little to no credit becoming available, small businesses are faced with closing their doors.  A Chapter 11 can help save a business from having to close by reorganizing their debt in a bankruptcy filing in federal court.  This can be beneficial to a business in that they are normally able to keep their doors open, thereby saving jobs and allowing the business to continue to be operational.  A San Fernando Valley bankruptcy attorney from the Law Offices of John Ribarich can meet with you free of charge to discuss the possibilities for this type of filing that can enable you to remain in business.

Chapter 11 is the most common form of filing for a business entity, but depending on your financial circumstances, a business might be able to file a Chapter 7 or Chapter 11.  A creditor can sometimes force a business into bankruptcy when seeking to collect a debt, however there are many restrictions and this is uncommon. 

With a Chapter 11, a plan of reorganization must be made and approved by the bankruptcy court with input from the creditors.  The plan must include detailed information showing that the business can continue to conduct business and remain financially solvent while being able to maintain payments to creditors. 

Making the Right Decision

In order to make the right decision for your business, getting the skilled and knowledgeable legal advice of an attorney from out firm can help you get the information you need.  Bankruptcy is not always the right answer for a business, so careful review of the financial situation you find yourself in is crucial to taking the right step.  Our firm can also offer you possible alternatives to bankruptcy, such as debt settlement or negotiation.  With our professional guidance, we can help get you through this difficult time and back onto solid financial footing.

If your business is having financial difficulties, contact a San Fernando Valley Chapter 11 Bankruptcy Attorney to discuss options.