Advantages of Chapter 11 bankruptcy

Posted on Wednesday, August 20th, 2014 at 5:56 pm    

Some business owners who are struggling financially may want to consider filing for Chapter 11 bankruptcy, especially if their businesses are saddled with overwhelming debt and are not generating enough income to cover costs. Under Chapter 11 bankruptcy, business owners may take advantage of the following:

  • Business owners may have an option to partially settle their unsecured debts
  • Continue business operation and pay debts at the same time
  • Creditors are barred from contacting business owners
  • All debts can be discharged
  • Business owners are allowed to organize the mode of payment for their secured debts

Chapter 11 bankruptcy gives business owners the opportunity to start afresh and re-gain financial stability. If you are considering filing for Chapter 11 bankruptcy in Raleigh, the experienced attorneys at the Bradford Law Offices, PLLC, may assist you through the filing process. Learn about our services and how Chapter 11 bankruptcy could help you by calling our offices at (919) 758-8879 today.