Restructure and Pay Off Your Business Debts With the Help of a Chapter 11 Bankruptcy Attorney Near Virginia Beach, VA and the Surrounding Areas
Chapter 11 is a form of bankruptcy that involves restructuring finances in order to repay debts over time. It is typically filed by businesses like corporations and partnerships, though it is possible for an individual to file Chapter 11 as well. However, it tends to be more expensive than Chapter 7 or Chapter 13 for an individual. At Winchester, Pedigo & Goolsby, PLC, you can partner with a Chapter 11 bankruptcy attorney to get personalized advice and service. Our bankruptcy lawyers can help clients near Virginia Beach, VA and the surrounding areas assess their situation and determine whether chapter 11 bankruptcy is right for them.
How Can a Chapter 11 Bankruptcy Lawyer Help You?
Chapter 11 can be started voluntarily by the debtor, or it can be forced by creditors if 3 or more of them file a petition with the bankruptcy court.
Chapter 11 bankruptcy is a complex process and it’s not the right solution for everyone. A bankruptcy attorney can help you determine if Chapter 11 is a viable solution for your debt issue, or if there is another solution that would be better for your situation. One of our bankruptcy lawyers can help you understand your situation and file the necessary paperwork if you decide Chapter 11 is the right route for you.
Filing Chapter 11 involves submitting:
- Schedules of all assets and liabilities
- Schedule of income and expenses
- Schedule of executory contracts and unexpired leases
- A statement of your financial affairs
You will also have to submit a plan to reorganize and repay your debts over a certain period of time. It can be very challenging to have your repayment plan approved, which is part of the reason this method is not the right choice for every individual. We can assist you in the bankruptcy process if you believe this is the best course of action for your situation, in turn helping to make your life easier.
Get Professional Advice and Assistance in Filing Chapter 11 Bankruptcy
If you think Chapter 11 bankruptcy may be the right solution to eliminate your debts and keep your business afloat without losing essential assets, contact Winchester, Pedigo & Goolsby, PLC to start with a free consultation. We’ll assess your unique situation and guide you to a solution that makes sense for you. We are committed to helping our clients get relief from their financial struggles and get back on track for success.
Chapter 11 is a form of bankruptcy that involves restructuring finances in order to repay debts over time.
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The information contained on this website is presented for informational and marketing purposes only and is not to be understood as legal advice. You should consult an attorney for advice respecting your individual needs. Winchester, Pedigo & Goolsby, PLC looks forward to speaking with you about your particular needs. Please note, however, that the mere act of contacting our firm does not create an attorney-client relationship. As a result, you should never send any confidential information to our office until a Representation Agreement has been signed by both you and Winchester, Pedigo & Goolsby, PLC.