Boca Raton Chapter 11 Bankruptcy Lawyers
Business bankruptcy lawyers from Padula & Grant, PLLC in Boca Raton help businesses file a petition with local bankruptcy courts for a Chapter 11 repayment plan. If your business, partnership, corporation, or business entity is experiencing financial difficulty, consider Chapter 11 bankruptcy.
How is Chapter 11 bankruptcy different from Chapter 7 bankruptcy?
A Chapter 11 bankruptcy is a method in which the court helps a business facing financial hardship in the following ways:
- Discharge a portion of debts
- Modify lease agreements and contracts
- Pay off a portion of debts
- Recoup assets
- Reorganize your business
- Try to regain productivity and profitability
Chapter 11 bankruptcy is considered business reorganization, while Chapter 7 bankruptcy is for personal debt. If you are a sole proprietor or a limited liability company, Chapter 11 bankruptcy would be a way to reorganize your business and alleviate some of your debt.
Chapter 11 Filing Requirements
The bankruptcy court will need the following documents to review a Chapter 11 bankruptcy case:
- Inventory of your assets
- List of your liabilities
- Documentation of income and expenses
- Contracts or current leases
- Account of your financial condition
There may be additional requirements that pertain to your situation. Get additional help for filing Chapter 11 by discussing the requirements with professionals such as an accountant and bankruptcy lawyer.
Call a Chapter 11 Bankruptcy Law Firm
As with all types of bankruptcy, Chapter 11 bankruptcy has complex guidelines. Our bankruptcy lawyers at Padula & Grant in Boca Raton have helped many small businesses and large corporations restructure their business through Chapter 11. We do not recommend you wait if your business is operating at a loss and creditors are beginning to seek remedies for unpaid debts.
If you would like a confidential consultation with one of our Chapter 11 bankruptcy lawyers at Padula & Grant, call us in Boca Raton at 561.544.8900. Also, feel free to complete our quick contact web form to set up your free appointment.
