Create new opportunities out of financial difficulty!
We know that considering bankruptcy protection is not easy for any business owner. At Norred Law PLLC, we learn our clients' priorities and goals for their businesses and propose practical solutions for achieving them. Attorney Warren V. Norred is experienced in helping steer businesses toward a brighter financial future or a successful winding down.
Depending on your business's financial situation and your long-term goals, Chapter 11 or Chapter 7 bankruptcy can be an effective way to reset your business's finances or wrap up your business and move on to other ventures.
Chapter 11 bankruptcy is a form of debt restructuring that allows a business to reorganize outstanding debts and establish a payment plan based on future earnings. For businesses that wish to keep operating, Chapter 11 provides a path toward business renewal and eventual growth using a plan of reorganization that can include the elimination of business sites and leases that are unprofitable, while keeping other sites alive.
In a Chapter 7 bankruptcy, the assets of a business are gathered and sold; the proceeds are used to settle claims from individual creditors. In most cases, any debts that remain following remain uncollectable and the business entity shields owners from liability. Chapter 7 bankruptcy is most often pursued by businesses that are looking to close but have at least some valuable assets.
Fort Worth Bankruptcy Protection for Businesses
We have the experience to sort through the most complicated finances and business operations. We anticipate our clients' questions and make sure they know what to expect from the bankruptcy process. Most bankruptcy attorneys have never filed a Chapter 11 petition, and cannot guide you in that area. Moreover, most bankruptcy attorneys avoid litigation at all costs. Without these tools, an attorney cannot provide the best advice and representation. If you have a business in financial turmoil, talk to Warren Norred, an experienced Chapter 11 filer.
Contact us at 817-704-3984 to set an appointment at our Arlington, Southlake, or Weatherford office for immediate bankruptcy help.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.