Bankruptcy for Businesses

A Chapter 11 bankruptcy is similar to a Chapter 13 bankruptcy, allowing businesses to restructure debts, and the company retains control of the assets and operations. Texas Chapter 11 bankruptcy allows businesses to stop collection efforts and create a repayment plan. Chapter 11 bankruptcy is a way to reduce your debt and protect your company’s assets. Many companies have managed to remain in business while paying off their debts. Why not you? It doesn’t mean you must give up on your business venture because of difficult times. You might be looking for the solution you need in Chapter 11 bankruptcy. Each business is unique, and each Chapter 11 filing will be different. Your company’s cash flow and debts will determine the basis for your Chapter 11 plan. Chapter 11 bankruptcy can stop interest and penalty fees, put you back in the good graces with your vendors, and keep the doors open.