Chapter 11 Bankruptcy Lawyer Largo, Maryland

Chapter 11 Bankruptcy

4 Extra Advantages in
Chapter 11 Bankruptcy

Chapter 11 Bankruptcy is most often sought by business corporations, sole proprietorships, and partnerships though iIt can also, in some cases, be sought by individuals who are not business owners. The Chapter 11 Bankruptcy allows the debtor to retain control of the business and reorganize the debts in a manner that allow the business to continue functioning.If you are a business owner or individual in Northern Virginia, facing financial distress, you can get over the situation by opting to file for Chapter 11 bankruptcy.

  1. Save Your Business
  2. Settle Debts For $0.10 On The Dollar
  3. Repay Creditors Based On Your Budget
  4. Save Home

A Chapter 11 bankruptcy allows debtors to pay back unsecured debts partly. They can continue to run their business peacefully as the law initiates an automatic stay on creditors contacting the debtors. Unsecured debts can be restructured over longer periods if payments are lower.

However, if you feel that you must also explore other options such as the benefits offered by Chapter 13 of the bankruptcy law, you can use the services of a skilled and experienced Chapter 13 bankruptcy lawyer Northern Virginia to carry out a detailed analysis of your case.

It is important to remember that a Chapter 11 bankruptcy requires proving to the court that it is in the benefit of the business to be allowed time to re-organized or even sold. And that by providing a line of credit and preventing creditors from seeking repayment for some time, the business can actually emerge as stronger and more profitable.

The Law Office of Rowena N. Nelson has emerged as the preferred legal experts for businesses staring at potential bankruptcy in Northern Virginia. Contact us for free legal consultation.

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