Benefits of Chapter 11 Bankruptcy
Chapter 11 bankruptcy allows businesses to create a plan to reorganize their debts into a payment plan and continue operating. When a corporation or small business accumulates a seemingly insurmountable amount of debt, Chapter 11 Bankruptcy may be the right solution to finally relieving the mounting financial pressure. In some rare cases, individuals may file for Chapter 11 bankruptcy in order to address their personal financial issues.
At Gagnon, Peacock & Vereeke, P.C., our Dallas Chapter 11 Bankruptcy attorneys can help you understand the filing process and determine whether bankruptcy is the appropriate route to take. Our bankruptcy lawyers are dedicated to helping businesses throughout every step of process.
Filing for Chapter 11 Bankruptcy
Chapter 11 bankruptcy can be a great option for businesses with extensive debt, as it allows the business to remain operating both during and after filing. The following are just some of the potential benefits of filing for Chapter 11 Bankruptcy:
- The business remains alive
- Certain debts may be discharged altogether
- Interest rates may be adjusted
- Protection from aggressive calls and harassment by creditors under automatic stay
- Assets restricted by liens may be sold
- Unsecured tax debt payments may be extended
Indeed bankruptcy can help businesses rebuild their finances, but the filing process is complex and requires the assistance of an experienced bankruptcy attorney. Fortunately, the Dallas Chapter 11 bankruptcy attorneys at Gagnon, Peacock & Vereeke, P.C. are prepared to help business owners address their financial issues through bankruptcy.
Contact a Chapter 11 Bankruptcy Attorney in Dallas
If you are considering filing for Chapter 11 bankruptcy to help rebuild your business’s financial future, the Dallas Chapter 11 Bankruptcy attorneys at Gagnon, Peacock & Vereeke, P.C. can help you through the legal process. Call our office today at (214) 317-4448 to speak with a bankruptcy attorney.