Chapter 11 Bankruptcy in Oklahoma City
Bankruptcy Lawyer Representing Struggling Businesses
Trying to run a business and keep it afloat while dealing with everyday operations is difficult enough. If you are struggling with your finances and collection attempts, it may be time to seek legal advice.
At McBride & Associates, we strive to help businesses in Oklahoma City and throughout the state seek relief from debt and creditors. We are here to help you decide if filing for bankruptcy is right for you so you can focus on your day-to-day operations.
Filing for Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a form of bankruptcy that is used to reorganize:
- The business debt
- Business affairs
- And its assets
This type of bankruptcy is used by businesses to give them a fresh start and stay active while repaying creditors. During the Chapter 11 bankruptcy process, you work with your lawyer to form a reorganization plan.
This plan entails how you will work to keep your business alive while you pay back your creditors. Once we have finished drafting a plan, it must be approved by the bankruptcy court. We are committed to working with you step by step to ensure the entire process goes smoothly.
What Are the Benefits of Chapter 11 for Your Business?
Apart from allowing you to continue your business operations, a few benefits of filing for Chapter 11 may include:
- Giving you more time to catch up on payments
- Ability to negotiate the amount you owe
- Lengthen the amount of time you can repay your loans
- Stops creditor harassment and collections
How Do You Qualify for Chapter 11 Bankruptcy?
If you are unsure whether this chapter of bankruptcy is right for you or whether you qualify, turn to our knowledgeable legal team.
In order to qualify, your business must be:
- A limited company
- And not any type of government entity
You will also need to let us review your:
- Financial statements
- And assets
This may help us determine if this is the right step for you.
We know that trying to file for bankruptcy on your own can be both confusing and stressful. You likely have a lot of questions on your mind in regard to your business operations and personal assets.
Instead of trying to navigate the process on your own or relying on unreliable information on the internet, turn to our Oklahoma City chapter 11 bankruptcy attorneys. With 20 years of experience, we are here to help you learn about your options and determine if bankruptcy is right for you.
We are a debt relief agency located in Edmond. We help people file for bankruptcy relief under the Bankruptcy Code. If you need helping to file a Chapter 7, Chapter 11, or Chapter 13 bankruptcy, reach out to us today!