Hernando Mississippi Chapter 11 Bankruptcy Lawyer

Business Reorganizations · Chapter 11 Bankruptcy

Because of our nation's recession, many businesses that once were stable and thriving are now facing the prospect of filing for bankruptcy. Attorney James W. Amos in Hernando, Mississippi, has experience helping small businesses file for Chapter 11 "business reorganization" bankruptcy.

If you would like to talk about your situation during an initial consultation with Mr. Amos, call today at 866-471-9681 or contact his office online.

Reorganizing Debt Under Chapter 11 Bankruptcy

Whenever a business is unable to pay all of its debts, then either the debtor can initiate a Chapter 11 bankruptcy giving the debtor time to reorganize the debtor's business by filing a Chapter 11 Plan of Reorganization.

In most cases, the creditors have to vote to approve a repayment plan. If no plan can get enough votes, the debtor may be able to "cram down" a plan — that is, to force the creditors to accept a plan that meets certain necessary legal requirements.

The plan may call for the debtors' assets to be liquidated. The business will then be dissolved and the proceeds will be shared among the creditors. The plan may also allow the business to keep running. This gives the business a chance to "reorganize" and try to adopt a more efficient or profitable model.

The Office of the United States Trustee and creditors monitor the business' operations very carefully, and if the business' managers appear to be incompetent or dishonest, the creditors can appoint a trustee to take over.

Call 866-471-9681 for Help

Chapter 11 bankruptcy is very complex. An experienced lawyer can help you take a realistic look at your prospects and find the best way through the process. Although you may have to make some difficult choices, no legal problem is too complex to be overcome.

To schedule an initial consultation with James W. Amos, call today at 866-471-9681 or contact his law office online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.