CHAPTER 11 BANKRUPTCY
Bankruptcy Attorney Bakersfield
Chapter 11 Bankruptcy | Commonly called a “reorganization,” Chapter 11 Bankruptcy allows your business to remain in operation and retain control over most or all of your assets.
The objective of Chapter 11 Bankruptcy in Bakersfield is to repay debts over time and eliminate or reduce other debts. This process is accomplished through obtaining confirmation of a Chapter 11 Bankruptcy plan of reorganization. Filing for Chapter 11 Bankruptcy is also utilized by businesses to liquidate assets in a controlled fashion. Many businesses in Bakersfield, large and small, have used Chapter 11 Bankruptcy to restructure debts and become more profitable. Individuals may also file Chapter 11 Bankruptcy. This occurs if individuals have businesses that cannot utilize Chapter 13 either due to the amount of debt, or because they need options beyond the terms of Chapter 13.
If you are considering filing Chapter 11 Bankruptcy in Bakersfield for your business, get advice sooner, rather than later. Call Max Gardner Today at 661-864-7373
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Chapter 7 Bankruptcy
Chapter 7 allows you to discharge your debt and most often keep your home and other assets.
Chapter 11 Bankruptcy
Chapter 11 Bankruptcy allows your business to remain in operation and retain control over most or all of your assets.
Chapter 13 Bankruptcy
Chapter 13 is an option if you can’t file Chapter 7 and/or wish to pay taxes or catch up your house payment.