Chapter 11 Bankruptcy for New Jersey Small Businesses

Reorganize Your Company’s Debts and Stay in Business with the Help of a New Jersey Small Business Bankruptcy Attorney

Is your small business struggling? Do you need help getting through a tough time so you can focus on the future? If so, then filing for bankruptcy under Chapter 11 could be a good option. Filing under Chapter 11 with the help of a New Jersey small business bankruptcy attorney allows you to reorganize your company’s debts so that you can stay in business.

Thanks to recent changes in the law, filing under Chapter 11 is now much more affordable than it used to be. As a result, it is now a viable solution for many small businesses. When you contact us, we can help you carefully weigh your options, and then we can help you pursue the bankruptcy solution (or bankruptcy alternative) that makes the most sense for you and your company.

What Can You Expect from a Chapter 11 Small Business Bankruptcy?

As a business owner, making informed decisions is important to you. This is especially true when it comes to financial matters. So, what can you expect from a Chapter 11 small business bankruptcy?

While the specific answer to this question depends on your company’s financial condition and the specific Chapter 11 small business bankruptcy option you choose, generally speaking, when you file for bankruptcy under Chapter 11:

• Your Small Business Will Benefit from the “Automatic Stay” – Filing for bankruptcy triggers an “automatic stay.” What this means is that once you file, your small business’s creditors will be prohibited from seeking to collect on their claims. This can provide much-needed financial breathing room, and it is the most immediate benefit of a Chapter 11 filing.
• You Will Be Able to Reorganize Your Small Business’s Debts – Filing for a Chapter 11 bankruptcy will involve reorganizing your small business’s debts. While you may be able to eliminate some debts through the bankruptcy process, the main focus will be on developing a payment plan that your small business can comfortably manage over the next three to five years.
• You Will Remain in Control – Except in rare circumstances, small business owners can remain in control of their companies after filing under Chapter 11. You will still be in charge of your company’s future, and you will be responsible for making the decisions that turn your company’s finances around.

If you think that a Chapter 11 bankruptcy might be the best option for your small business, your next step is to schedule a free consultation with a New Jersey small business bankruptcy attorney. The sooner you get started, the sooner you can get your small business back on the path toward financial stability.

Request a Free Consultation with a New Jersey Small Business Bankruptcy Attorney

For more information about the Chapter 11 bankruptcy process, contact us to arrange a free, no-obligation consultation. Call 866-964-6529 or tell us how we can reach you online to schedule an appointment.