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The Chapter 11 Process Learn What to Expect by Contacting My Firm

Dallas Chapter 11 Bankruptcy Lawyer

Chapter 11 Bankruptcy Reorganization for Businesses

In the face of overwhelming debt and financial difficulties, there is a way to reorganize and pay creditors over time – while keeping your business alive. Chapter 11 bankruptcy, often referred to as “reorganization” bankruptcy, allows corporations, partnerships, and other businesses the opportunity to propose a repayment plan to pay back debt while keeping their doors open.

If your company is drowning in debt and you are looking for a way out, Chapter 11 bankruptcy may be a viable option. It is important to make the decision to file only after carefully reviewing your current financial situation along with your goals and concerns. As a Dallas Chapter 11 bankruptcy attorney, I can talk to you about what you are going through. I can offer experienced guidance related to reorganizing your company’s debt and working toward a more stable future for your business.

Call M. J. Watson & Associates, P.C. today at (214) 506-1107 to discuss Chapter 11 and how I can help.

The Chapter 11 Process: What to Expect

A general overview of the Chapter 11 bankruptcy process follows:

  • You file a petition for Chapter 11 bankruptcy protection (in some cases creditors may be able to force a company to file).

  • An automatic stay is placed on all debt collection efforts against your company. Creditors cannot attempt to recover the debt you are owed during this automatic stay.

  • Under the supervision of the bankruptcy court, you work out a repayment plan to repay creditors (repayment amounts are typically far lower than the amounts originally owed). Meanwhile, your company continues to operate without interruption.

  • Once your reorganization and repayment plan is approved by the court, debts that existed prior to the creation of the plan are discharged. You must then repay creditors according to and in compliance with the terms of your repayment plan.

To find out how you can experience immediate relief without having to liquidate assets or close your company’s doors, call (214) 506-1107.

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