Chapter 11 can help small businesses and individuals who want to work through difficult times.
Many business owners mistakenly believe that pursuing Chapter 11 bankruptcy means their business is over. In fact, the opposite is true. Chapter 11 is not an end game; rather, it's a new start. In many situations, obtaining the protections of Chapter 11 bankruptcy is simply a smart business decision.
Fort Worth Debt Reorganizing Attorney
Chapter 11 is a process of restructuring debt and renewing the business. In the long term, it can be a pathway to growth — a means of becoming profitable again. Most importantly, the business remains in operation during the entire process. Business owners can retain control over their business and its assets.
At Norred Law PLLC, we assist businesses with harnessing the potential for growth and renewal through Chapter 11 bankruptcy. As Texas small-business owners for more than 15 years, we understand the many concerns businesses face when weighing this type of decision. We provide personalized and tailored guidance to help businesses make smart decisions moving forward.
One example of a good candidate for Chapter 11 involved a recent client who had three fast-food franchises - we helped him close one franchise so the other two could continue moving forward. By eliminating the poor performer in bankruptcy, the rest of the business could thrive.
We do not shy away from difficult or complex cases. Our firm readily handles all types of bankruptcy cases, including niche areas. We are a one-stop-shop for those seeking debt relief solutions. We do hard things so you don't have to.
Chapter 11 is useful for individuals too!
If you are entrenched in an excessive amount of personal debt, Chapter 11 may be a viable option. Usually this will be individuals with large income tax debts or with a number of rent houses. You may be able to rearrange your debts — even obtain principal forgiveness for a home mortgage. Additionally, you can negotiate to reduce or eliminate your secured debts attached to valueless assets. This opportunity for sophisticated debt negotiation is not available under any other chapter.
Contact Our Debt Restructuring Law Firm
Warren Norred, an Arlington Chapter 11 Lawyer, can help your business; you need not go to a tall building attorney. We have performed debt restructuring for individuals as far out as Spring, Texas, and franchise owners with stores in Louisiana.
To learn more about whether bankruptcy can help you or your business reach financial freedom, consult with Warren Norred, an Arlington Chapter 11 bankruptcy attorney today. Call Norred Law PLLC at 817-704-3984. You can also contact us online. We look forward to assisting you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.