Chapter 11 Bankruptcy Lawyers in Plano and Dallas


If your business is struggling with unpaid loans or other debt, bankruptcy may be the logical answer. If you have a strong reason to believe your business will succeed in the future and you need time to implement a reorganization plan, a Chapter 11 "Debtor in Possession" bankruptcy may be appropriate.

Chapter 11 is a business bankruptcy for corporations which have many assets or which anticipate having a viable business in the future if it were to be unhampered by a huge amount of debt.

The benefit to Chapter 11 bankruptcy is that the business can get a plan confirmed by the court that would allow it to continue to do business and handle its creditors through the bankruptcy court reorganization procedure while the debtor remains in possession of and continues to run the business.

If the business needs to be shut down, then Chapter 7 is often the best option.

Contact Pelley Law Office, L.L.P., Today

We invite you to call us at 972-608-0335 to schedule a free confidential consultation with an experienced bankruptcy lawyer. You can also contact us by email now to request an appointment to discuss your options. You will be under no obligation to hire us. We look forward to speaking with you and explaining how we can help.

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