Dallas Fort Worth Business Bankruptcy Attorneys
Create new opportunities out of financial difficulty!
Norred Law PLLC assists businesses and individuals in the Dallas Fort Worth area – and across Texas – with Business Bankruptcy.
At Norred Law PLLC, we know that considering bankruptcy protection is not easy for any business owner.
Our attorneys 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 business winding down.
Bankruptcy – Choosing Chapter 7 or Chapter 11
Depending on your business’s financial situation and your long-term goals, either Chapter 11 Bankruptcy 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
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.
Chapter 7 Bankruptcy
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.
Bankruptcy Protection for Businesses in Dallas Fort Worth and Texas
Norred Law PLLC has 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. Mqany bankruptcy attorneys have never filed a Chapter 11 petition, and cannot guide you in that area. And most bankruptcy attorneys avoid adversary proceedings in banckruptcy 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 bankruptcy attorney.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.