Every business goes through tough times. The key to success is knowing when to reevaluate your needs and come up with a new plan. If your business cannot keep up with its debt, you may want to consider business bankruptcy. At locations in Greenwood and Noblesville, Bankruptcy Law Office of Jonathan Brown, helps Central Indiana businesses reorganize their debt and get back on their feet. With Chapter 11 bankruptcy, you could get the fresh start you need to succeed.
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Chapter 11 bankruptcy is similar to Chapter 13 bankruptcy, but it is designed for businesses. We will come up with a reorganization plan to file with the court, which then has to be approved by your creditors. As long as you can provide some type of financial benefit to your creditors, you will be allowed to reorganize your debt in a matter that allows your business to continue to operate.
How Chapter 11 Bankruptcy Works
Chapter 11 can be a very complex process, requiring a lot of paperwork. Looking at monthly operating reports, net worth statements, and insurance information, we will work with you to come up with a plan that reflects your needs and responsibilities. More lengthy than Chapter 7 or Chapter 13 bankruptcy, it works best for small and closely held businesses.
What Chapter 11 Bankruptcy Means for You
If your business is failing because of your debts, Chapter 11 will give you a second chance. By reorganizing your debt into a plan you can afford, our lawyers can help you come up with a plan to operate at a profit while making timely payments to your creditors. If you are not a viable business with long-term goals, you may want to pursue Chapter 7 or Chapter 13 instead.
If you want to save your business, it may be time to start exploring Chapter 11 bankruptcy. With offices in Noblesville and Greenwood, we help clients across Indiana. Call us toll free at 317-565-4829 or contact us on-line today for a free initial consultation.