Corporate Counsel In The Charlotte, NC Area
Consult With a Knowledgeable Chapter 11 Bankruptcy Attorney in Charlotte, NC and the Surrounding Areas
When a business has overwhelming debts, it may file for Chapter 11 bankruptcy, which allows the company to restructure and pay off its debts in a reasonable repayment plan. These companies are typically corporations, partnerships, or LLC’s. Oftentimes, companies that file Chapter 11 bankruptcy are able to start fresh and stay afloat. Chapter 11 bankruptcies are arguably the most complex type of bankruptcy case, so it’s important that you partner with an experienced attorney. At Marcellino & Tyson, PLLC you can work with a knowledgeable Chapter 11 bankruptcy lawyer who will guide and represent you throughout the entire process.
Our offices are located in Charlotte, NC and we assist clients in the following North Carolina and South Carolina counties:
• Mecklenburg County, NC
• Gaston County, NC
• Cabarrus County, NC
• Union County, NC
Why Do You Need a Chapter 11
Chapter 11 bankruptcy is complex and involves a considerable amount of work. In most cases, the debtor has four months to propose a reorganization plan after filing for Chapter 11 bankruptcy. That period may be extended to 18 months if you have a good reason. Once that period is over, creditors can propose their own reorganization plans. A Chapter 11 bankruptcy plan proposes a way to restructure a business so that it can pay it’s obligations. Most of these plans involve downsizing the business’s operations so that expenses are reduced and assets become available to pay off creditors.
A Chapter 11 bankruptcy attorney will assess your business’s financial situation and determine the potential solutions. If Chapter 11 bankruptcy is the most viable option for you, we’ll help you file and devise a reorganization plan.
Get Professional Help With Filing Chapter 11 Bankruptcy
Debt doesn’t have to be the end of your business. Many large corporations have remained in business by filing Chapter 11 bankruptcy and reorganizing. Get the guidance, assistance, and representation you need to get through this process efficiently and successfully; call Marcellino & Tyson, PLLC today.