Baton Rouge Chapter 11 Bankruptcy Lawyers

Knowledgeable Guidance from Grand Law Firm

Chapter 11 bankruptcy allows business and occasionally individuals to reorganize debts into planned payments. This debt reorganization can typically be done while the business remains functioning but there are circumstances which may require business closure as well. Chapter 11 bankruptcy is meant to provide protection for businesses facing financial difficulty and to allow for those businesses to restructure without creditor harassment. Within a Chapter 11 case, the debtor and his or her attorney must compose and submit a repayment plan to the bankruptcy court. If the proposed plan is accepted by the courts and creditors it then becomes the business owner’s new business structure.

If you’ve found that your business has fallen into an overwhelming amount of debt and you’re struggling to stay afloat, the good news is there are many different debt relief options. To discover what debt relief option will best fit your personal situation, schedule your appointment at Grand Law Firm to meet with one of our qualified bankruptcy attorneys in Baton Rouge.

Preparing for a Chapter 11 Business Bankruptcy Case

Navigating a Chapter 11 case is often a long and difficult process. Because of the time spent handling these cases and the difficulty in structuring a manageable payment plan, it is important to have an experienced bankruptcy lawyer at your side. It is also important for you to prepare the following information on your business to review with your attorney.

Though we do not require any documents for your free consultation and case evaluation you will be required to provide the following documents before completing your bankruptcy filing:

• Profit and loss statements for your business for the past year
• The last two years of business tax returns
• The last two years of personal tax returns
• A list of all business inventor, assets, and account receivable
• A list of personal assets
• Business bank account statements for the past year
• Personal bank account statements for the past year

Explore Your Options

Through Chapter 11 bankruptcy is a useful debt relief tool it is not always the best choice for every business. Many business and individuals have also found debt relief through carefully structured Chapter 7, or Chapter 13 cases or even non-bankruptcy debt settlement.

At Grand Law Firm, we are also happy to discuss non-bankruptcy alternatives to address your business’s financial needs. Our firm has been instrumental in negotiating with creditors to restructure business debt.