Expert Business Debt Reorganization Firm Serving Mobile
Frances H. Hollinger is a knowledgeable and professional bankruptcy attorney who helps clients put an end to harassing phone calls from bill collectors. If you are a Mobile resident looking to pay creditors over time, we can help you with every step of the process. Commonly referred to as debt reorganization, Chapter 11 bankruptcy can allow a corporation or an individual to pay back some of what they owe over time. It is often used by businesses that still have a reliable income, but that can’t keep up with their accumulated corporate debt.
Overview And Benefits Of Filing Chapter 11
The first step is to speak with a Chapter 11 lawyer who can help you file a petition with the court. It is also generally necessary to include a debt reorganization plan and a disclosure statement listing all assets and liabilities. Once these documents have been approved, the court holds a hearing to determine whether or not to confirm the plan. Once approved, the rest of the bankruptcy process usually lasts between three to five years.
There are benefits to filing for Chapter 11 over other types of bankruptcies. Perhaps one of the biggest advantages is the ability to reorganize your finances, which allows you to get back on your feet once your bankruptcy is over. You can also rewrite certain mortgage terms, which can reduce your monthly payments and help you recover financially.
Contact A Reputable Attorney Today
At the law offices of Frances H. Hollinger, we enter into a partnership with our clients. We help Mobile residents reorganize their finances by filing for Chapter 11 bankruptcy. Contact us by calling 251-432-8878 to schedule a time to meet with our Chapter 11 attorney.