Could Your Business Benefit From Chapter 11 Bankruptcy?
Individuals who are faced with large amounts of credit card debt and other liabilities can seek relief under Chapter 7 bankruptcy or Chapter 13 bankruptcy protection. However, it’s not just individuals who can find themselves needing a fresh start. Business bankruptcy is not uncommon and could serve as a lifeline for a struggling enterprise.
Businesses in central Nebraska that file for bankruptcy might choose to do so under Chapter 7 bankruptcy or Chapter 13 bankruptcy; however, this is not possible in all cases. Some circumstances might call for Chapter 11 bankruptcy, which is specific to businesses.
Helping Businesses Deal With Debt
Michael D. Carper, an attorney in Kearney, has represented individuals and small businesses in bankruptcy cases for nearly three decades. He has a passion for defending the rights of people who need assistance with getting back on their feet.
Under Chapter 11 bankruptcy, a business can readjust its debt obligations and formulate a plan to repay its creditors over time. This might make sense for some small-business clients who are looking for a way back to profitability. For people who do not qualify for Chapter 7 bankruptcy or Chapter 13 bankruptcy, you could also be eligible to file for Chapter 11 bankruptcy. It all depends on your specific circumstances.
When the farm economy is down, family farmers might also seek advice from a bankruptcy lawyer about their problems. However, farms are more apt to file under Chapter 12 bankruptcy, rather than Chapter 11 bankruptcy.
Call Today To Learn More
Learn more about the options available to small businesses considering bankruptcy by contacting The Law Offices of Michael D. Carper today. Call 308-236-2090 or toll free at 877-468-3519. You can also contact him online via this online contact form.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.