Not every business that is in need of debt relief through bankruptcy is going out of business. Some still have substantial sales and cash flow, but simply have debts that are virtually impossible to keep under control.
In these cases, it can be valuable for the business to file for Chapter 11 bankruptcy. As a La Grange lawyer serving businesses throughout Cook County and surrounding areas in Illinois, I have helped countless businesses remain in operation and build stronger businesses by filing for bankruptcy. If you are in need of debt relief for commercial or corporate entities, then contact my office to get representation you can rely on.
Can Chapter 11 Bankruptcy Help My Business Survive?
Every business has seasonal changes and ups and downs in revenue, but sometimes things spiral out of control. Chapter 11 bankruptcy provides businesses that want to remain in operation the opportunity to restructure debts into payment plans that are within reach.
While business managers remain in control of day-to-day operations of a business going through Chapter 11 bankruptcy, not every decision is up to them. Once a business files for bankruptcy, whether it is a small proprietorship or large publicly held corporate entity, bankruptcy court must still approve major decision-making.
This is a very structured way for businesses to maintain operations, so before deciding on a certain kind of asset protection option, make sure to discuss the options available with a skillful attorney who can be direct and informative throughout the entire process.
Contact Cook County Business Reorganization Lawyer David P. Lloyd Today
Plant the seed today for a fresh start tomorrow. By scheduling a free consultation with David P. Lloyd, Ltd., online or by telephone at 708-937-1264, you can work directly with an Illinois lawyer who knows bankruptcy and how it can unearth new potential. There is no need to hesitate in getting information that addresses your unique needs. I look forward to hearing from you.
My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.