What is Chapter 11 Bankruptcy?<\/span><\/strong><\/h2>\nIs your business struggling with a financial obligation? Are you having a hard time covering your payroll or store rent? For business owners facing financial distress and the threat of losing the company they’ve worked hard to build, filing bankruptcy in Oregon<\/a> can help you get out of troubling waters.<\/p>\nUnder a Chapter 11 bankruptcy<\/strong>, businesses can restructure their debts thereby enabling the company to stay afloat. It is designed to help debtors create a financial plan that the creditors and the Court will agree on to help the company remain open. The agreement will involve modifying interest rates, adjusting due dates of payments, or even discharging debts entirely! As long as all creditors agree on the terms, the new contract will be enforced and the filer will receive a debt discharge. <\/p>\nIn contrast, if your business is already closing, a liquidation bankruptcy<\/a> might be a better alternative. Some debtors opt for bankruptcy under Chapter 13 or 7 to cut on the time, cost and risk of going through Chapter 11 proceedings. Our Portland bankruptcy attorneys<\/a> here at Michael D. O’Brien and Associates<\/strong> can help you decide which bankruptcy option is right for you. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n\n\n<\/div>\n<\/div>\n\n<\/div>\n<\/div>\n<\/div>\n\n\n\nBankruptcy for Small Business Owners<\/span><\/strong><\/h2>\nContrary to popular belief, Chapter 11 is not only for large corporations or businesses. In fact, it has often been used by small business owners to keep their stores open. If you have a lot of creditors pursuing you, you should know that filing a Chapter 11 bankruptcy can stop the collection process. You can begin the process by speaking with an experienced Portland Chapter 11 bankruptcy attorney near you, then preparing all needed documents. As soon as your bankruptcy petition is filed, an automatic stay will be issued by the Court. An automatic stay can help you:<\/p>\n
\n- Stop creditor collections<\/li>\n
- Stop an eviction or prevent foreclosure<\/li>\n
- Avoid having to go through a collections trial<\/li>\n
- Prevent seizure of your properties and assets<\/li>\n<\/ul>\n
Under a Chapter 11 bankruptcy<\/strong>, businesses can restructure their debts thereby enabling the company to stay afloat. It is designed to help debtors create a financial plan that the creditors and the Court will agree on to help the company remain open. The agreement will involve modifying interest rates, adjusting due dates of payments, or even discharging debts entirely! As long as all creditors agree on the terms, the new contract will be enforced and the filer will receive a debt discharge. <\/p>\n In contrast, if your business is already closing, a liquidation bankruptcy<\/a> might be a better alternative. Some debtors opt for bankruptcy under Chapter 13 or 7 to cut on the time, cost and risk of going through Chapter 11 proceedings. Our Portland bankruptcy attorneys<\/a> here at Michael D. O’Brien and Associates<\/strong> can help you decide which bankruptcy option is right for you. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n Contrary to popular belief, Chapter 11 is not only for large corporations or businesses. In fact, it has often been used by small business owners to keep their stores open. If you have a lot of creditors pursuing you, you should know that filing a Chapter 11 bankruptcy can stop the collection process. You can begin the process by speaking with an experienced Portland Chapter 11 bankruptcy attorney near you, then preparing all needed documents. As soon as your bankruptcy petition is filed, an automatic stay will be issued by the Court. An automatic stay can help you:<\/p>\nBankruptcy for Small Business Owners<\/span><\/strong><\/h2>\n
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