Chapter 11 Bankruptcy Attorney Based in Lincoln
Understanding the Benefits of Chapter 11 Bankruptcy
If your business is struggling with overwhelming debt, Chapter 11 bankruptcy may be the solution to help you regain control and protect your livelihood. Unlike other bankruptcy chapters, Chapter 11 is specifically designed for businesses and offers unique advantages.
Here are some key benefits of filing for Chapter 11 bankruptcy:
- Business Continuity: Chapter 11 allows your business to continue operating while restructuring its debts. This means you can keep generating revenue, paying employees, and serving your customers.
- Debt Restructuring: Through a reorganization plan, you can negotiate with creditors to modify repayment terms, reduce interest rates, and even eliminate certain debts. This can provide much-needed relief and improve your cash flow.
- Asset Protection: Chapter 11 provides the opportunity to retain valuable assets, such as real estate, equipment, and intellectual property. This allows you to maintain the foundation of your business and maximize its value.
- Time to Rebuild: With Chapter 11, you have the chance to reevaluate your business strategies, streamline operations, and implement changes to improve profitability. This can set you up for long-term success.
- Legal Protection: Filing for Chapter 11 triggers an automatic stay, which puts a halt to creditor actions, such as lawsuits, collection efforts, and foreclosure. This gives you the breathing room needed to focus on restructuring your business.
At Lentz Law, our experienced Chapter 11 bankruptcy attorneys in Lincoln are dedicated to helping businesses throughout Nebraska navigate the complexities of the bankruptcy process. We understand the unique challenges you face and will work tirelessly to protect your interests and guide you towards a brighter financial future.
Discover the difference of working with Lentz Law today. Contact us to schedule a consultation and take the first step towards reclaiming control of your business.
Protecting Businesses and Livelihoods in Omaha and Throughout Nebraska
A turbulent economy and unexpected shifts in fortune can result in a business being unable to keep up with its debts due to circumstances beyond its control. Chapter 11 bankruptcy allows companies to pursue financial reorganization while continuing to operate normally.
If you are running a business that is struggling to manage its obligations, our Lincoln Chapter 11 bankruptcy lawyer can help you seek the relief you need to succeed. We can also assist small businesses with Subchapter V cases and individuals who have too much debt to file for Chapter 13 bankruptcy. Our team at Lentz Law understands the intricacies of bankruptcy and can serve as your guide and advocate throughout each step of the process. We understand you are going through a deeply stressful time and welcome the opportunity to offer you capable, no-judgment representation.
Subchapter V Relief for Small Businesses
Though Chapter 11 bankruptcy has helped countless businesses reorganize their debt, it can be a complex, lengthy, and costly process. A traditional Chapter 11 filing may be cost-prohibitive for many small business owners, but Subchapter V introduces a simplified, expedited, and less expensive option.
As of 2021, filing for Chapter 11 bankruptcy under Subchapter V may be possible if your business owes less than $7.5 million in total debt. At least half of these debts must be tied to business activities. A small business that consists of owning and running a single property will not qualify for Subchapter V relief.
"Everything was straightforward, and they were always there to answer questions and provide guidance."Steve M.
"He assured me I had options and filing Chapter 7 was in my best interest considering the circumstances."Jessica N.
"Great service and an incredibly fair price."Jamie B.