Salem and Haverhill, MA, Chapter 11 Bankruptcy Attorney
Assisting Clients With Business Reorganization
In today’s difficult economy, many businesses are struggling to stay afloat. Costs are up. Sales are down. The numbers just don’t work. Restructuring your financial matters through a Chapter 11 business bankruptcy may be the best option for keeping the business you’ve put your heart and soul into alive.
At the Law Offices of Kenneth E. Lindauer, we recognize the time and effort you’ve put into building your business and your desire to see it continue into better times. With more than three decades of experience guiding business owners through the process of Chapter 11 bankruptcy, attorney Kenneth Lindauer understands the law and knows what it will take to get your business back on stable ground.
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What Is Chapter 11 Bankruptcy?
Chapter 11 bankruptcy, also known as business bankruptcy, involves establishing a repayment plan to restructure debt. A debtor and retained legal counsel prepare a disclosure statement proposing a reorganization strategy and payment plan. This plan is voted on by creditors and then submitted to the court for final approval.
The Advantages of Chapter 11 Bankruptcy
Perhaps the most advantageous aspect of filing Chapter 11 involves a business owner remaining in possession of his or her property and being allowed to continue business operations under the supervision of the court. In addition, there is not a time limit in which a Chapter 11 bankruptcy plan must be completed.
A Chapter 11 Bankruptcy can be complex. The proposed repayment plan must be approved by all creditors and the court. The plan must also be achievable based on your particular situation, as dischargeable debt is not eliminated until the terms of the repayment plan have been fully met. Choosing an attorney experienced in navigating through the challenges of Chapter 11 is of great importance. You need someone who not only understands what is at stake, but takes the time to listen to your needs.
At the Law Offices of Kenneth E. Lindauer, you will be offered the personal attention, understanding and serious representation you need. Contact our offices to learn more about how we can use our experience and commitment to excellence to help you effectively and efficiently resolve your legal matter.
Attorney Kenneth Lindauer is a “debt relief agent” as defined by the United States Bankruptcy Code. Under the law a “debt relief agent” is a person who provides bankruptcy assistance to consumers.