Is Chapter 11 Business Bankruptcy the Right Option for Your Struggling Business?
The Chapter of Title 11 of the U.S. Bankruptcy Code governs the process of business re-organization under the bankruptcy laws. If your business is struggling under unmanageable debt, this type of bankruptcy may be the best way to help it get a firm footing again so that it can operate without running deeper into the red.
The bankruptcy attorneys at Thomas W. Lynch & Associates can help you assess your business’s debt situation and can recommend a course of action for you. If Chapter 11 business bankruptcy is determined to be the best solution for your company, our lawyers will work hard to make the process easy while easing your debt burden as much as possible.
Call us at (708) 598-5999 or complete our online request form now to set up a confidential consultation with out of our bankruptcy attorneys. The consultation is free and you are under no obligation to hire our services.
What Are the Bankruptcy Options Available for Businesses?
When a business is in trouble and is unable to pay its creditors, business owners can opt to file—can be forced by their creditors to file—for protection under either Chapter 7 or Chapter 11 business bankruptcy.
- Chapter 7 Business Bankruptcy usually results in the business’s assets being fully liquidated to pay off as much debt as possible to its creditors. Any remaining debts will be written off, and the company will then be forced to cease operations for good.
- A Chapter 11 Business Bankruptcy enables the filing company to stay in business while the court supervises the re-organization of its contractual debt obligations. The court can grant complete or partial relief from most of the company’s debts and contracts, so that the company can make a fresh start. The company will make manageable monthly payments to a guarantor who will handle repayment of debts to creditors until the negotiated debts are paid off.
Unless you have given up all hope that your company might one day be successful, Chapter 11 business bankruptcy is usually the best option. Allow the bankruptcy attorneys at Thomas W. Lynch & Associates to help get your company’s finances in order so you can move its balance sheet from red to black.
If you feel that Chapter 11 Business Bankruptcy is the right choice for your business, call us at (708) 598-5999 or fill out a form to the right NOW to arrange a free in-person consultation with one of our bankruptcy lawyers.
For more information on whether your business may be eligible, please call to make an appointment.
Client Testimonial:
“Great bankruptcy attorney. We believed we had a complicated bankruptcy case and met with Mr. Lynch to discuss our case. He has engaging and made it easy for us to understand our bankruptcy options. He communicated clearly what the next steps in filing our Chapter 13 case would be and after we got him our documents, he followed through on what he said he was going to do. In fact, he was successful in removing our second mortgage lien from our property!”
P. Nicholas, Bankruptcy Client
What Makes The Law Offices of Thomas W. Lynch & Associates
- We have attorneys and accountants on staff who have CPA experience
- Our offices have filed more than THREE THOUSAND (3,000) bankruptcies since our inception in 1992
- Our staff of professionals is well-versed in Illinois bankruptcy laws
- We offer convenient hours of operation, including evening and weekend hours
- Our rates are highly-competitive and we will work with you to arrange easy and manageable payment for our legal services
- We are conveniently located in the southwest Chicago suburbs, very near a number of expressway exits, so our offices are easy to get to
Business debt problems will not go away on their own. Take action now. Contact our lawfirm at (708) 598-5999 or submit our online form to arrange an informative meeting. Please download, print and complete the Initial Interview Bankruptcy Form located below and bring it to your complimentary consultation.
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