What is Chapter 11 Bankruptcy?
A chapter 11 bankruptcy in Utah usually results in reorganization of the debtor’s business or personal assets and debts, but can also be used for liquidation. It is primarily used by businesses but is also available to individuals, especially those who have substantial debts or complex cases and do not qualify for a Chapter 13 bankruptcy. Chapter 11 bankruptcy has more onerous requirements, but it is also the most flexible and allows the bankruptcy filer to act as trustee and remain in control of its ongoing finances.
Why Vannova Legal
For individuals or businesses with multiple assets, substantial debt, or complicated matters, a Chapter 11 bankruptcy is usually the best option. Vannova Legal bankruptcy attorneys are unique in providing support for Chapter 7, Chapter 13, and Chapter 11 bankruptcy filings. The few firms that do support chapter 11 bankruptcy filings cater primarily to businesses and require substantial advance retainers. Vannova Legal’s fees are structured to make it cost effective for individuals and small businesses to receive the benefits of bankruptcy by filing in Chapter 11.
Whether you are facing foreclosure, tax levy, lawsuits, or other unexpected hurdles, the financial professionals at Vannova Legal strive to create a strategy for your unique situation. The purpose of a Chapter 11 bankruptcy case is to give you time to create a plan of reorganization that resolves your particular difficulties. Vannova Legal has a multi-disciplinary group of professionals (finance, legal, real estate, mortgage) that work hand in hand with you to understand your legal and financial situation in detail. We help you create a plan of reorganization that is achievable and, where possible, able to be confirmed by the bankruptcy court.
Vannova Legal bankruptcy attorneys understand the needs of business owners and realize there is often overlap between business and personal finances that needs to be analyzed in the context of filing. If you are fighting foreclosure, dealing with a contested matter, married or own a business, you may need a strategy for timing multiple filings. It is rarely the best option to file them all at the same time and Vannova Legal bankruptcy attorneys will provide the guidance you need. Whether your case is simple or complex, you can be sure to receive cost-effective bankruptcy help from Vannova Legal Chapter 11 bankruptcy attorneys in Arizona & Utah.
Benefits of Chapter 11 Bankruptcy
The filing of a Chapter 11 bankruptcy offers protection for your home, car and other types of exempt assets. It will also stop a foreclosure or avoid a garnishment or repossession. The Chapter 11 bankruptcy filing creates an automatic stay that stops creditors from pursuing their collection efforts.
CHAPTER 11 BANKRUPTCY WILL STOP FORECLOSURE
Save Your Home and Eliminate Debt