Jump to Navigation

April 2017 Archives

An overview of how Chapter 11 bankruptcy works

Chapter 11 bankruptcy is a bankruptcy process that allows the struggling business to reorganize its debts and also liquidate assets to repay debts. Once the filing party has filed the bankruptcy motion, they remain in possession of the business and its assets during the business bankruptcy process. The goal of the process is to get the business back on its feet.

How is property protected in a Chapter 13 bankruptcy process?

Bankruptcy can be a reorganization option for individuals. However, in order to use this bankruptcy type, filers must have a reliable source of income. Those seeking to reorganize their debt and enjoy a fresh financial start at the end of the process should consider filing for Chapter 13 bankruptcy. A manageable repayment plan is developed through the Chapter 13 bankruptcy process that allows the filing party to repay their debts over a 3-5 year period.

The bankruptcy process can help with wage garnishment

It can be overwhelming to be facing overpowering debt. Then add to the stress by including wage garnishment to an already challenging circumstance. It can already be stressful to try to address debts, monthly bills and other financial concerns prior to the added pressure of wage garnishment, which can make all of those concerns even more challenging. As a result, it can be tremendously important to stop wage garnishment.

Company in Chapter 11 selling to Tennessee company

The bankruptcy process can be an important resource for struggling businesses to consider. While it is a difficult process to initiate and certainly a challenging decision to make, it can often be the best choice and option for a business struggling to keep afloat.

What's Your Situation:

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Subscribe to This Blog's Feed Visit Our Bankruptcy Website

Our Office Location:

Richard Banks & Associates

393 Broad Street, N.W.
Cleveland, TN 37364-1515
Map & Directions

Phone: (423) 244-0009
Toll Free: (866) 596-8527
Fax: (423) 478-1175

FindLaw Network

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.