You run a small business, and it’s not always easy to deal with downturns in the economy. It’s not surprising that sometimes debts become overwhelming or simply don’t get paid. If you find yourself in a position where you’re struggling to make ends meet, you may in a situation that could be relieved with Chapter 11 bankruptcy. Chapter 11 bankruptcy is different than most because it allows you to rework your business. By restructuring your business plan, determining better income streams and by reducing debt, you can get a handle on your situation and emerge out of Chapter 11 bankruptcy with a viable, profitable business. During the process, you’ll also be paying down old debts. Typically, unsecured debts left unpaid at the end of the bankruptcy are dismissed, so you can start fresh. If you’re planning to file for Chapter 11 bankruptcy in New York, it’s important that you work with someone who knows the legal in’s and out’s of the court system. It takes time to come up with restructuring plans and effort to come up with the finances to pay off creditors. You’ll need to work with creditors to determine which debts you need to pay back while… Continue reading
Bold labels are required.
For more than 30 years, the Ugell Law Firm, P.C., has been helping people and businesses throughout the lower Hudson Valley with a broad range of legal services.
Ugell Law Firm, P.C., provides legal advice and representation for clients in New City, New York, and communities throughout the Rockland County, Orange County, Putnam County and Westchester County in the Greater Hudson Valley, including Nyack, New City, Clarkstown, Ramapo, Stony Point, Orangetown, Nanuet, Spring Valley, Monsey, Goshen, Warwick, Carmel, Mahopac, Poughkeepsie, Croton Falls, Haverstraw Village, Pearl River, Suffern, West Haverstraw and Newburgh, New York,
© 2016 by Ugell Law Firm, P.C. All rights reserved.