The Chapter 11 Process in Miami

Learn How to File Successfully!

While Chapter 7 and Chapter 13 bankruptcy cases mostly deal with individuals, Chapter 11 typically applies to business owners who find themselves in debt. Having to close your doors due to debt can be disheartening, but Chapter 11 bankruptcy can provide an alternative.

If your business is struggling with financial problems, you cannot afford to wait another day. Our qualified team of Miami business bankruptcy attorneys can provide the assistance you need to get your company back on track to success. Orshan, P.A. has over two decades of experience and a history of success!

How do I file for Chapter 11 bankruptcy?

Chapter 11 bankruptcy can be time-consuming and risky for any business, particularly those that are small in nature. It is, however, the only viable way to remain in business while restructuring and paying off debt. It can be especially beneficial for business owners who owe too much money to qualify for Chapter 13.

In its simplest form, Chapter 11 includes three major steps:

  • Drafting a disclosure statement
  • Confirmation of a reorganization plan
  • Employing the reorganization plan

A disclosure is a statement that tells the court how you plan to reorganize and pay back your debts. After the creditors approve that it can be done, your disclosure is submitted to the court and either approved or denied.

You are also required to share your reorganization plan with the creditors. After the creditors and court approves this plan, you can begin putting it into action. A trustee is typically appointed to help carry out the plan.

Trust Our Bankruptcy Attorney to Help

Our Miami bankruptcy lawyers can evaluate your case to determine if Chapter 11 is the best fit for your business. The paperwork can be lengthy and confusing, which makes it difficult to file on your own.

When you work with Orshan, P.A., you are guaranteed to receive personalized counsel every step of the way.

Call our firm to learn more about how we can help you reach your financial goals!

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