Chapter 11 bankruptcy lawyers are experienced, skilled, and knowledgeable in the area of Chapter 11 bankruptcy law of the United States Bankruptcy Code. They assess your financial situation thoroughly and make recommendations based on your special needs and goals.
Also referred to as business reorganization bankruptcy, Chapter 11 bankruptcy is possibly the most complicated and lengthy type of bankruptcy. It allows the company management (the debtor) to continue to run the day-to-day business operations and reorganize its financial affairs. But the bankruptcy court must approve all major company decisions.
If you are considering filing for Chapter 11 bankruptcy, there are many things that you should consider. The first step to take is to contact a reputable Chapter 11 bankruptcy lawyer, because filing bankruptcy is a step that could have an unfavorable effect on your business, particularly if your bankruptcy is not handled suitably. Since Chapter 11 bankruptcy falls under federal law, consulting a lawyer is very useful for those unfamiliar with the complications of federal law.
Most lawyers give you a free initial consultation to review your financial situation and offer legal advice on the best course of action. Generally, Chapter 11 requires the lawyer to represent you for up to five years. On your first visit to the lawyer's office, you should bring a list of everyone that you owe. This list should include all medical bills, taxes, credit cards, and personal loans. The better the information that you give to your Chapter 11 lawyers, the better their advice will be.
Finding a Chapter 11 bankruptcy lawyer is a very easy process. The most common way to choose a lawyer is from a referral. These recommendations usually come from family, friends, or professional affiliations. Selecting an attorney from the Internet or yellow pages is also a good option.
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