Chapter 11 Bankruptcy Attorney in Aurora
Serving Individuals & Businesses in Denver & Surrounding Areas
If you or your business is struggling to make ends meet, you are likely
looking for a form of debt relief. But
Chapter 7 and
Chapter 13—the two most common forms of bankruptcy—have strict qualifications.
You may not qualify for (or benefit from) Chapters 7 or 13 if:
- You have a high income
- The type of debt you owe is not dischargeable
- Your level of debt is extremely high
- You have high-value assets you would like to protect from liquidation
- You want to keep your business running and in your control
To help those facing the above situations, the government established Chapter
11 bankruptcy as a way for businesses and high net-worth individuals to
reorganize and potentially reduce their debt. Like all forms of bankruptcy,
Chapter 11 can help you achieve a fresh start and stronger financial foundations.
It also triggers the automatic stay, which halts all collection activities.
However, you will have to fulfill your obligations under the reorganization
plan in order to derive maximum benefits.
Generally, Chapter 11 is a complex and expensive form of bankruptcy, which
is why you will greatly benefit from professional and experienced assistance. At
Consumer Law Pro, we can help you understand how the process works and determine whether
it is the best way to resolve your financial situation. Our firm has been
handling all kinds of bankruptcy cases for individuals and businesses
since 2009, filing
more than 2,000 cases throughout the state of Colorado. When you work with us, you can trust the quality of our counsel and depend
on consistent, direct access to our attorney.
Looking for a way to reduce crushing debt? Consumer Law Pro can help you
do so while keeping your business running and your assets safely in your
possession. Call us at
(303) 622-3833 to schedule your
free consultation today.
How Does Chapter 11 Bankruptcy Work?
Most Chapter 11 bankruptcy petitions are filed by corporations, partnerships,
and limited liability companies (LLCs), but individuals who do not qualify
for a Chapter 7 or Chapter 13 may file as well. In most cases, business
owners voluntarily file, but creditors can unite and force a company into
a Chapter 11. In some cases, they can even propose the repayment plan
themselves, which is why it is critical to have an attorney by your side,
fighting for your best interests.
The length of the filing process can vary greatly, ranging from several
months to several years. During this time, businesses can continue to
operate under the filer’s control. The business owner is then known
as the “debtor in possession.”