Bankruptcy Solutions for Connecticut Businesses
When your business is in financial trouble, Chapter 11 bankruptcy can serve as an effective legal solution. Located in Hamden, Bridgeport, Waterbury, Rocky Hill, and Ridgefield, Connecticut, our bankruptcy law firm — The Law Offices of Neil Crane, LLC — focuses on providing effective legal representation to small to mid-sized businesses throughout Connecticut. Our business bankruptcy lawyers are dedicated to pursuing innovative solutions to achieve debt reduction and get your business back on track.
About Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a form of debt relief for businesses and some individuals under the Bankruptcy Code. Chapter 11 bankruptcy makes good sense in certain situations. It is an excellent solution for basically sound companies in serious financial crisis. Chapter 11 allows an owner to maintain operation of a business and reorganize through a court protection process when other methods of negotiation and out-of-court resolutions have not succeeded. It allows the business to continue normal operations, even in the event of lawsuits, levies, or attachments. It provides an automatic stay on all actions to collect that can only be broken by court order. It allows for all actions and all creditors to be heard in one forum convenient to the company seeking relief. It also provides a convenient forum for the filing company attorney to dispute claims against its assets and promptly collect from parties owing money to the filing company.
There is also a court-ordered period where no payments need to be made on existing "pre-filing" debt until the company or filing individual has had time to reorganize. During this period, the company is free to operate its normal business without interference from creditors or the Court. Eventually, a Plan of Reorganization is filed and its approval allows for affordable repayments of reduced debt and past obligations.
You may want to consider Chapter 11 bankruptcy for your business debt if you find yourself with certain types of financial concerns:
- Liability related to a lawsuit
- Tax problems with the IRS
- Credit problems related to a partner's insolvency
- Landlord-tenant conflicts
- Inability to pay certain debt obligations
- High interest consumer debt obligations
- Other business debt problems
When Your Business Debt Problems Lead to Personal Debt Problems
Only rarely do small businesses struggle financially with absolutely no financial impact on the personal finances of their owners. At The Law Offices of Neil Crane, LLC, we find that most business financial problems go hand-in-hand with personal ones. That is why we analyze and address the larger picture — all financial concerns affecting you and the people you care about — with solutions like Chapter 7 bankruptcy and Chapter 13 bankruptcy.
Learn more about our small business bankruptcy services and how our Connecticut Chapter 11 bankruptcy attorneys can help you obtain the debt relief necessary to save yourself and your small business from insolvency.
Consult With Our New Haven Business Debt Reduction Attorneys
We offer a free consultation regarding Chapter 11 bankruptcy. Please do not hesitate to call us today at 888-249-3027, toll-free 1-800-616-DEBT, or complete our online contact form to discuss your questions and concerns with an experienced New Haven business debt reduction lawyer.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
