Chicago Chapter 11 Bankruptcy Lawyer
Atlas Consumer Law Can Explain Your Options
Chapter 11 bankruptcy is a viable debt relief solution for corporations, businesses, and high-net worth individuals who are struggling to stay afloat. Essentially, this form of bankruptcy affords businesses and individuals the opportunity to reorganize and restructure their debt. However, Chapter 11 can be expensive and may not be the right choice for everyone, which is why you should consult a Chicago bankruptcy attorney about all of your debt relief options.
Our mission is to educate clients about all of the options available to them, including the benefits and disadvantages of each debt relief solution. It is important to be aware of the fact that while you will be able to stay in business when filing for Chapter 11 bankruptcy, you will lose major decision-making power to the bankruptcy court. We can assist you in creating a “fair and equitable” repayment or reorganization plan that will help you get your finances back in order.
Find out if Chapter 11 bankruptcy is the right choice for you by contacting Atlas Consumer Law.
Chapter 11 Bankruptcy for Businesses
When a business files for Chapter 11, it may still run its day-to-day operations while getting protection from creditors. A number of debts and contracts may be canceled or reduced, including both secured and unsecured loans, loan contracts, real estate leases, and supply and vendor contracts. However, if you are a small business owner with little value beyond limited receivables, it may make more sense to seek protection under Chapter 7 bankruptcy.
Chapter 11 Bankruptcy for Individuals
While Chapter 11 filings are typically associated with business entities, it can also be a helpful debt relief tool for certain individuals. An individual Chapter 11 may be the right fit for a person with complex debt along with significant assets or a high individual income. It is important to note that individual Chapter 11 filings are treated similarly to business Chapter 11 filings. Therefore, the more onerous requirements of this filing might not be best for everyone.
Our Unique & Dedicated Approach to Bankruptcy
Our approach to bankruptcy is unique because we guide individuals and corporations at various points of the bankruptcy process. Whether you are at the very start, middle, or at the end, we can provide you with the well-versed knowledge and counsel you need. And, our role as a guide doesn't end when your bankruptcy is finalized.
Through our "Protect the Discharge" program, we can ensure that your rights are not violated through post-debt discharge creditor harassment. We will continue protecting your consumer rights and file lawsuits if your rights are infringed upon under the Fair Debt Collection Practices Act (FDCPA) or the Fair Credit Reporting Act (FCRA).
Contact Our Chicago Bankruptcy Lawyers
Our Illinois debt solution firm, Atlas Consumer Law is proud to have a team comprised of some of the most dedicated and skilled bankruptcy attorneys in Chicago. Our creative and innovative strategies have led to the successful debt relief of countless individuals and corporations. Our commitment to pursuing excellence has been praised by various legal organizations and associations. In fact, we have an A+ Rating with the Better Business Bureau.
Have questions about Chapter 11 bankruptcy? Contact us today to arrange an initial consultation.