Crown Point Business Bankruptcy Lawyer
Chapter 11 bankruptcy is available for businesses, partnerships and corporations. It can also be used by an individual who is over the debt limit for Chapter 13. Because of the time and amount of work involved, not all bankruptcy attorneys offer Chapter 11 services. However, with my experience in commercial law, I understand the nuances of Chapter 11 bankruptcy.
I am Andrew L. Kraemer, a Merrillville Chapter 11 bankruptcy attorney. I represent individuals and small businesses in Indiana in Chapter 11 bankruptcy cases. For 20 years, I have helped people regain control of their finances by filing for bankruptcy. To make an appointment, please call 219-472-1441 today. Your initial consultation is free.
Chapter 11 Offers Flexibility
Chapter 11 bankruptcy is also called Reorganization, because that is its primary objective. The individual or business has 120 days from filing Chapter 11 to file a reorganization plan. The plan must be approved by a creditors committee and the court.
After the plan is approved, the debtor will repay some of its obligations. Under the plan, the debtor is allowed to discharge some debt. Chapter 11 also permits a business to discontinue some contracts and leases. During the reorganization, a business may also be allowed to recover some of its assets.
If you are considering filing Chapter 11, you need to contact an attorney as soon as possible. Filing Chapter 11 requires significant planning and time. It can also be expensive; however, I strive to resolve cases in a cost-effective manner.
For a free initial consultation, please call 219-472-1441 or contact me online.