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SKILLED LAWYER FOR FILING CHAPTER 11 BANKRUPTCY IN WILMINGTON, NC
Chapter 11 bankruptcy is intended to help businesses with debt reorganization. A chapter 11 attorney may help you to reorganize your finances by eliminating debts and arranging to pay other creditors over time. This option is available to businesses of many shapes and sizes, including the:
- Corporation
- Partnership
- Sole Proprietorship
- Small and Medium Business (SMB)
Whether you own a large corporation or a small business, an experienced chapter 11 lawyer such as James S. Price can help.
WHAT CAN YOU EXPECT?
What happens in a chapter 11 case? Chapter 11 is used by corporations with debts and bills that have gotten out of control. When these businesses have reached the point that they can no longer meet their financial obligations, they may consider filing for chapter 11 relief. In this case, a number of things are likely to happen:
- The business can often negotiate the terms of their debts.
- The business can often eliminate or pay a fraction of the unsecured debts.
- The business that successfully completes a bankruptcy can look forward to a healthy financial future.
WHAT ARE THE BENEFITS?
There are some important benefits to filing for chapter 11 bankruptcy. For example, you may be able to gain relief from lawsuits, foreclosures and repossessions by obtaining an automatic stay of your creditors. You can also expect relief from pending lawsuits and other collection attempts. Other benefits can include ongoing operation of the business, adjustment of interest rates and the deceleration of some obligations.
OUR ATTORNEY HELPS SMALL & MEDIUM BUSINESSES WITH DEBT REORGANIZATION
When your business finances are spiraling out of your control, you need the help of an experienced attorney. James S. Price in Wilmington understands that life can be complicated and can often be unfair. Give us the chance to help eliminate the stress brought on by financial troubles and put you back on the path to financial freedom. Would a chapter 13 bankruptcy be appropriate? Our number is 910-791-9422.
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