Los Angeles Business Bankruptcy Attorney

Information on Business Bankruptcy

If you are a business owner who is struggling under debt, you may not be aware that there is a type of bankruptcy that is just for businesses and corporations that have a large amount of debt to pay off. Chapter 11 bankruptcy is a type of bankruptcy that allows businesses to stay open and in operation while operating under a structured repayment plan that allows you to pay off your debt while still remaining owner of your business. For more information on Chapter 11 business bankruptcy, contact a Los Angeles bankruptcy attorney from our firm today.

A Chapter 11 repayment plan is a great way to keep your business going while paying off your debts. Under Chapter 7 bankruptcy, all business assets are liquidated and the business is closed to pay off the creditors that the money is owed to. This process allows a business owner to get a full fresh start and be released from crushing obligations that cannot be paid. Under Chapter 11 bankruptcy, however, the business does remain open while one monthly payment is made towards the debts that are owed to the creditors. The business owner is still the owner and proprietor of the business, called the "debtor in possession," and after your debts are discharged, you can go back to operating your business with your debts resolved.

Business Bankruptcy Attorney Serving Los Angeles and Surrounding Areas

At Matthews Law Firm, we have over 22 years of experience helping businesses and corporations hold on to their businesses while still getting out from under their debt. Business bankruptcy is a complex area, and you need an attorney who can handle your debt litigation and negotiation in court and with your creditors. An attorney can help seek to have a reasonable monthly payment and reduce the amount of debt you are required to pay back. Negotiating discharging your debt, and seeking out every possible advantage for our corporate clients is part of the service we provide to our corporate clients. Our lead attorney has a business degree and has exceptional insight into how best to assist all types of business owners that are struggling financially.

Contact a Los Angeles business bankruptcy attorney from our firm today to discuss your bankruptcy and debt options.