Wallingford, Connecticut, Bankruptcy Attorney
One key factor in the decision whether or not to file for Chapter 11 bankruptcy is feasibility: Does it make sense for my business? Does my financial situation warrant it? Answering these questions on your own can be tough. With the help of an experienced bankruptcy attorney, you can find answers to these and other questions you have about filing for Chapter 11 bankruptcy.
At Attorney Joseph J. D'Agostino, Jr., LLC in Wallingford, Connecticut, our bankruptcy attorney has over 15 years of experience in assisting corporate clients who are faced with these very questions. If you are wondering whether bankruptcy is even feasible for your company, contact our firm today. We offer informative initial consultations in a friendly, comfortable environment. Call to discuss your case with an experienced bankruptcy attorney.
Is Chapter 11 Feasible for My Business?
Any business facing serious financial hardship and significant debt may file for Chapter 11 bankruptcy. As opposed to Chapter 7 bankruptcy which is a liquidation of assets, Chapter 11 allows you to reorganize your debt into more manageable payments. Choosing this form of bankruptcy is a good idea for companies with cash flow that are also consumed by debt. It may also be a good option for companies with temporary cash flow problems.
What Will Chapter 11 Do for My Business?
Filing for Chapter 11 bankruptcy benefits companies in financial crisis in several ways. First, it allows businesses to get out of bad leases and bad contracts. It also eliminates unsecured financing, which interrupts cash flow. While the reorganization plan and payment of debt may take up to five years, declaring Chapter 11 bankruptcy brings relief instantly and still allows you to operate your business.
Choose the law firm that is committed to helping you achieve your business goals of financial stability. At Attorney Joseph J. D'Agostino, Jr., LLC, we can help you find the debt relief you need to help you stabilize your business. If you would like to meet with bankruptcy lawyer Joseph D'Agostino to discuss if Chapter 11 is feasible for your business, please contact our firm today. Call us toll-free at 203-377-9994.