Chapter 11 Bankruptcy Lawyer in Palm Desert

Debt Relief for High-Income Individuals & Businesses

Chapter 11 bankruptcy – often referred to simply as reorganization – allows higher-income individuals or businesses to reorganize debts without starting over completely. Multimillion-dollar companies and corporations around the world have found debt relief by filing for Chapter 11 bankruptcy.

At J. Doling Law, PC, we represent high net worth individuals and businesses of all sizes filing Chapter 11. Our extensive knowledge of federal laws and local procedures has helped thousands of clients obtain favorable outcomes.

Seek debt relief with help from J. Doling Law, PC. Call us today at (760) 884-4444.

The Chapter 11 Process

Individuals and businesses seeking relief from overwhelming debt may wish to file for Chapter 11 bankruptcy. Chapter 11 is best suited for corporations, partnerships, and LLCs but individuals who have too much debt or too much income to qualify for Chapter 7 or 13 may also benefit from Chapter 11.

In most Chapter 11 bankruptcies, there is no trustee and debtors usually continue their normal business operations. A trustee will only be appointed if the bankruptcy court finds evidence of fraud, mismanagement, or incompetence.

Though the business will still be operable, the bankruptcy court must approve major business decisions such as:

• Sale of assets or real property
• Starting or breaking a lease
• Entering into or modifying contracts
• Mortgage arrangements
• Paying fees for attorneys and other professionals

By the end of the bankruptcy process, you will have reorganized your debts and come to an agreement with creditors about how you will continue paying debts in the future. Our Chapter 11 bankruptcy attorney in Palm Desert can walk you through the process.

Changes to Chapter 11 Bankruptcy

Effective February 20, 2020, the Small Business Reorganization Act (SBRA) will introduce substantial changes to Chapter 11 bankruptcy for small businesses. The SBRA will help small business owners reorganize debts more affordably.

At J. Doling Law, PC, we are already up to speed on the ins and outs of the SBRA. We understand how this Act will affect small businesses seeking debt relief and can pass this knowledge onto you.

Discuss your financial situation with our team today by calling (760) 884-4444.