Atlantic City Chapter 11 Bankruptcy Attorney
Chapter 11 bankruptcy is among the three most common ways to shed debts. For businesses and individuals with substantial assets and debts, it is often the best option, particularly if their assets and debts are too great to qualify under Chapter 7 or Chapter 13 bankruptcy.
Chapter 11 filers are enabled to eliminate certain debts and consolidate and reorganize others in a 60-month debt repayment plan. After fulfilling obligations to this plan, filers usually find themselves free of debt and in a better financial position than they were before.
Chapter 11 Bankruptcy · Primarily For Businesses, But Also For Individuals
At the Law Office of Chad M Sherwood, LLC, we help small businesses, corporations, LLCs, partnerships and individuals to complete Chapter 11 bankruptcy. From our office in Pleasantville, we represent clients in the Atlantic City area and surrounding areas in southern New Jersey.
- For businesses: Chapter 11 is sometimes known as “business reorganization” because the business owner submits a repayment plan to the bankruptcy court. Under this plan, the business owner must demonstrate how reorganization (along with the elimination of certain debt obligations) will enable the filer to repay some or most of its unsecured debt. Chapter 11 also empowers business owners to repay secured creditors for equipment loans, state and federal government for back taxes owed, as well as to renegotiate or cancel burdensome leases.
- For individuals and families: Chapter 11 bankruptcy is sometimes available to individuals and married couples who are not eligible for debt relief under other forms of bankruptcy due to high income or significant debts. Once the bankruptcy court approves a Chapter 11 repayment plan, the filer makes payments for an extended period of time (60 months).
Questions about bankruptcy? Get answers by reading our FAQ.
Chapter 11 Is Complicated · Let Us Simplify It For You
Getting debt relief through Chapter 11 bankruptcy involves a complicated process. Because of this, it is extremely important that you consult with an experienced and knowledgeable bankruptcy attorney.
Our experienced Chapter 11 bankruptcy lawyer, Chad Sherwood, offers a free, no-obligation consultation to each prospective client. Meet with him, and he will review your financial information concerning your assets, cash flow, transactions, secured and unsecured debts, and outstanding tax obligations. From there, he will counsel you on your options and whether Chapter 11 bankruptcy or another debt relief option will be suitable to meet your goals.
If you retain our firm, we will assist you with every aspect of your filing, reorganization plan, meetings with creditors, and in other court appearances. While your bankruptcy is being processed, we will prevent creditors from harassing you. We will also work to discharge your debts while doing everything possible to retain the assets you need.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.