Chapter 11 Bankruptcy Attorneys
What is Chapter 11 Bankruptcy
Filing for bankruptcy can be overwhelming and complex. It is important to understand what Chapter 11 bankruptcy is and what it is not. In simple terms, declaring Chapter 11 bankruptcy allows you to file for bankruptcy and then create a plan to pay off your debts on a reasonable timetable. It does not wipe out all of your debt.
For example, if you are a business owner who has vendors harassing you on a daily basis for payments, declaring Chapter 11 bankruptcy allows you to stay in business while suspending the constant contact from collectors. However, you will have to pay your creditors back the balance owed based on a mutually agreed-upon repayment schedule.
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Who Is Chapter 11 Bankruptcy For?
Most commonly, declaring Chapter 11 bankruptcy is done by businesses who can no longer afford to pay their creditors on a regular basis. A business can voluntarily declare bankruptcy with the goal of creating a plan to stay in operation while repaying their debts over time. However, a business can involuntarily enter bankruptcy if its creditors decide to take action on the outstanding debts that are owed. If you are a business owner who has a significant amount of outstanding debt, you need to be prepared for this type of scenario.
Chapter 11 bankruptcy protection can also be utilized by individuals and couples who have amassed a considerable amount of debt that they can no longer afford to pay off. As an individual or couple, this is not a process you want to enter into alone. Since you are already in a compromised financial state, it is key to find a reasonable bankruptcy attorney who knows the ins and outs of the system. The Firm of Ivey McClellan can provide the bankruptcy help you need to fight for a settlement that will stop creditor harassment while creating a plan to become debt-free in the coming years.
Finding A Good and Affordable Bankruptcy Attorney
In today’s world, it is not difficult to find a lawyer. A simple search engine query will turn up dozens of results. Finding an honest bankruptcy attorney who has years of negotiating and settlement experience and considers your best interest as the number one priority is a lot tougher.
You can trust us when we tell you that you do not want just any lawyer when it comes to declaring bankruptcy. You need an experienced bankruptcy attorney who understands the bankruptcy laws of your state and will get you the best deal possible when it comes to creating a payment plan.
It is important to find a bankruptcy lawyer that understands your situation and will work on your behalf. When a business or individual is declaring bankruptcy, they may be in a state of desperation. Some bankruptcy attorney firms might see this as an opportunity to overcharge a client. You may get the immediate help you need... but you will end up in even more debt due to the exorbitant legal fees.
When it comes to representing yourself in a bankruptcy court, you risk leaving yourself open to several detrimental outcomes such as:
- Wage Garnishment
- Bankruptcy Fraud
- Personal Property Seizures
- Personal Liability Issues
- Unnecessary Penalties
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Experienced Chapter 11 Bankruptcy Attorneys In North Carolina
The law firm of Ivey, McClellan, Siegmund, Brumbaugh & McDonough, LLP has spent the last 70 plus years representing individuals and small businesses in a wide range of legal matters, including bankruptcy law. We have offices in both Greensboro and Eden in North Carolina. Our specialty is helping you navigate the difficult process of declaring Chapter 11 bankruptcy and the steps that come next. We understand the United States bankruptcy code and how to deal with debt collectors. We can help you work your way through your current financial hardship.
We offer our clients an entire team of experienced bankruptcy attorneys who have spent decades working directly with people just like you, facing the same types of hardships that you are currently experiencing. We are here to guide you through all types of debt issues including tax law, harassing creditors, and foreclosures. We know what to do after filing bankruptcy paperwork including how to eliminate debt and get back on track. We will walk you through your various bankruptcy options and find the right path forward for you.
We have over seven decades of combined bankruptcy law experience, and remain one of the few remaining debtor-based business law firms and bankruptcy attorneys in Greensboro, NC. We know what it takes to help you with any type of debt issue you are facing. Together, we will create a customized solution that leads to an amicable resolution inside or outside of the courts.
Tackle The Bankruptcy Process Together
We understand that declaring Chapter 11 bankruptcy can be an embarrassing time for you and your family. You may be beating yourself up over poor financial choices you made in the past. You may also be anxious and nervous about what comes next in your journey to become debt-free. We want you to know that you are not alone.
Feeling down about yourself over past mistakes is not going to help anyone. You have taken the important step by identifying the problem and researching possible solutions. Now, you can make the crucial decision to hire the firm that provides the solutions you need for a successful outcome. We will be with your every step of the way to explain your options and suggest the best path forward so you can regain your financial security and peace of mind.
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Financial Freedom From Debt
When you are in serious debt, it can feel like your whole life is impacted while you get back on track. Not only do we help you navigate bankruptcy proceedings, but we will also help you find the right credit counseling and secure the debt relief you deserve.
Your current financial problems do not have to dictate the rest of your life. We can help you develop a debt-repayment plan that helps you rebuild your credit and work towards the financial freedom you desire.
Our Additional Legal Services
As you explore your legal options for Chapter 11 bankruptcy, you may also decide to get other areas of your life in order as well. We would be proud to serve as your go-to law firm for all of your legal needs. We specialize in:
Get A Fresh Start
We would like to offer you a free legal consultation with one of our expert bankruptcy lawyers to discuss your situation and explore how we might be able to help you. Fill out the brief questionnaire below. A member of our team will contact you within 24 hours.