Filing Chapter 11 Bankruptcy
Helping You Retain Your Business And Securing Your Future
If your business is facing bankruptcy, you may be able to keep your doors open and regain financial stability by filing for Chapter 11 bankruptcy. Chapter 11 allows you to reorganize your business and thereby continue operations while eliminating debt and other financial obligations. The process of filing for Chapter 11 is incredibly complex, which is why it’s essential that you enlist the help of an experienced bankruptcy attorney in Royal Oak and southeastern Michigan who can guide you every step of the way. Our team has more than 100 years of combined experience and an exclusive focus on bankruptcy law. This allows us to provide you with the in-depth legal assistance you need to work towards a better, more secure future.
Interested in learning more about Chapter 11 bankruptcy? Call us at 248-630-3671 for an in-person consultation.
Who Can File For Chapter 11?
There are certain advantages to filing for Chapter 11 bankruptcy as opposed to Chapter 7 or Chapter 13. If your business is facing foreclosure, or the IRS is threatening levy on your bank accounts, you may choose Chapter 11 for protection.
Chapter 11 bankruptcy is available to:
- Sole proprietorships
- Small business owners
- Limited liability companies
The process begins with a business reorganization plan intended to help the petitioner stay in business. A Bankruptcy Court will oversee this reorganization, protecting the business from creditors during that time. The court may grant partial or complete relief for the company’s debts and contract, eliminating debts and sometimes even negating obligations like leases, labor and employment contracts, and more.
How Our Firm Can Help You
No matter your circumstances, Gudeman & Associates, P.C., can help you understand your bankruptcy options. We have extensive experience with all aspects of Chapter 11 filings, including those for individuals with real estate portfolios, small manufacturing companies, outdoor advertising companies, and small construction-related firms. We understand that business owners considering Chapter 11 have exhausted all other options for staying open. With this in mind, we offer compassionate guidance that’s tailored to your unique situation. We will aggressively advocate for your legal rights throughout the entire bankruptcy process.