Los Angeles Chapter 11 Bankruptcy Attorney
With the economic recession of 2008, small businesses suffered perhaps more than any other sector of the American economy. They are our florists, our coffee shop owners, our boutique hotel owners, restauranteurs, clothing store proprietors and construction companies. They are the men and women who make up the fabric of American commerce and they deserve the utmost respect for their contribution to society. There is no shame in financial struggle, and the attorneys at the Los Angeles Law Offices of I Los Angeles Bankruptcy Attorneys are committed to supporting the small businesses of Southern California to right themselves in times of extreme financial distress. For a free consultation with one of our bilingual staff members at either our Los Angeles or Sherman Oaks offices, please call (213) 699-3055 today.
When the need arises, filing for Chapter 11 bankruptcy can be a lifeline for a small business suffering from immense financial troubles. A business does not have to close its doors just because it files for Chapter 11 bankruptcy and it may in fact allow the business to stay afloat.
Understanding Chapter 11 Bankruptcy
Chapter 11 bankruptcy refers primarily to small business in extreme financial distress. Understanding the overall financial situation of your business is essential to a favorable outcome in court, and a skilled bankruptcy attorney will be a valuable asset throughout the process. The attorneys at the Los Angeles Law Offices of I Los Angeles Bankruptcy Attorneys will educate you on the bankruptcy process and how you can benefit from it to prevent the foreclosure of your home or business property, protect you from the onslaught of creditors hounding you for payments that you don’t have and creating an effective strategy to either pay back certain critical debts or absolve your debts entirely.
Los Angeles Small Business Bankruptcy Attorney
Chapter 11 Bankruptcy will not be the answer for all businesses, but the Los Angeles small business bankruptcy attorneys at I Los Angeles Bankruptcy Attorneys will do their very best to ensure the financial stability of your small business by any means possible. If eligible for Chapter 11 bankruptcy, a small business may have the ability to restructure their business finances to eliminate all or partial debts and continue to remain in operation. For business that are owned by a partnership or are limited liability corporation (LLC), Chapter 11 bankruptcy may be their only option for debt relief.
Restructuring of a Small Business
With the restructuring of a business through Chapter 11 bankruptcy, a business can reduce their payment obligations and terms as well as successfully balancing business income and expenses. They can choose to downsize the business or liquid certain assets in an effort to minimize debts owed.
Contact a Los Angeles Chapter 11 Bankruptcy Attorney Today
We are proud of the rock-solid reputation we have earned among our former clients and colleagues and look forward to providing you with high quality legal assistance as you deal with the possibility of Chapter 11 or 13 bankruptcy or foreclosure on your home. Please contact our offices located in Sherman Oaks and Los Angeles today to speak with one of our bilingual staff members and to start the process of financial recovery. As a Southern California debt relief agency, we are standing by to assist you. Call us at (213) 699-3055 today for a free consultation.