Our bankruptcy attorneys in Daytona and Tampa can help you file for bankruptcy relief under U.S. Code, Title 11, with the ultimate goal of saving your possessions, saving your home, and rebuilding your good credit. U.S. Code, Title 11, covers several different types, or “chapters,” of bankruptcy.
Chapter 11 Bankruptcy is a complicated proceeding generally used by businesses or debtors with substantial assets. In a Chapter 11 bankruptcy, creditors are temporarily halted from taking any action against the debtor while the debtor proposes a method of paying or settling the debts. The creditors vote on the plan and it must be approved by a certain amount of the creditors. Chapter 11 bankruptcy is designed to preserve a business which would otherwise be lost in liquidation.
After filing for Chapter 11 bankruptcy, a business can hold collection actions and levies at bay while developing a plan of reorganization. This gives the business time to get caught up on bills and time to negotiate with creditors. Chapter 11 bankruptcy can also be used to liquidate a small business in a timely manner.
Located in central Tampa, the bankruptcy lawyers at Attorneys and Debt Counselors will be glad to meet with you about whether bankruptcy would be advantageous for you, and which chapter of bankruptcy would meet your situation.
Please call (813) 876-3328 to schedule a free consultation with a Tampa bankruptcy attorney from Attorneys and Debt Counselors.
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Bankruptcy may not be for everyone. Mr. Carratt analyzes each client’s situation and creates a Debt Relief Strategy. Serving Tampa Bay & Daytona Beach areas.