Benefits of Chapter 11 Bankruptcy
Choosing to open a business can be a very risky decision, especially in today’s fluctuating economy. And, while many businesses do survive and flourish, a number of businesses unfortunately face times of financial uncertainty or hardship. If your business has struggled and has failed to bring in a profit over a number of consecutive months, you may want to consider filing for Chapter 11 bankruptcy to get out of debt, allowing you and your business to achieve better financial security.
There are a number of advantages to Chapter 11 bankruptcy every business owner should be aware of, especially when facing financial trouble. To learn more about how you may be able to get out of debt, contact a Raleigh Chapter 11 bankruptcy lawyer of the Bradford Law Offices, PLLC, today at (919) 758-8879 to learn more about your options.
Chapter 11 Bankruptcy Advantages
If you or someone you know is facing financial struggles as a business owner, it is important to know you have options. Some benefits of Chapter 11 bankruptcy include:
- The business can continue to operate while paying off debts
- Chapter 11 bankruptcy lets debtors partially pay back unsecured debts
- The automatic stay judgment gives you freedom from harassing creditors contacting you at home or at your business
- Freedom to restructure secured debts where payments can be lower and spread over a longer period of time
- No debts that are considered nondischargeable
To learn more about additional advantages of Chapter 11 bankruptcy, contact our Raleigh Chapter 11 bankruptcy lawyers of the Bradford Law Offices, PLLC, at (919) 758-8879 today and speak with a skilled and dedicated legal representative.