Business Bankruptcy Attorneys serving all of Maryland, Washington D.C. Metro Area, Pennsylvania and New York.
Chapter 11 (Reorganization)
Businesses under financial strain due to debt may consider filing for Chapter 11 bankruptcy. Both large corporations and small businesses are eligible to file under this chapter if they meet certain criteria. Chapter 11 is an ideal option for businesses with a good chance of succeeding and turning a profit.
Under Chapter 11, businesses continue operating while repaying creditors. During this time, they function according to an approved plan to reorganize their business and repay some or all of their debts over a period of time.
Why Do I Need a Business Bankruptcy Attorney?
The experienced bankruptcy attorneys at the Law Offices of Jill Pogach Michaels facilitate legal paperwork, prepare and present necessary evidence, and negotiate on your behalf.
If you feel your business cannot be successful and have supporting evidence, Chapter 11 is not right for you. If you’re the sole owner of the business, you may opt to file for Chapter 7 Bankruptcy, which would release you from most debts and eventually facilitate the complete closure of your business. Contact the Law Offices of Jill Pogach Michaels to discuss your options.