Chapter 11 bankruptcy is designed to help businesses repay their debt but also continue to operate. Chapter 11 is commonly used by businesses, but it is also an option for some individuals with debt that exceeds that allowable with chapter 13 bankruptcy. If you think you may need to file chapter 11 bankruptcy, talk with bankruptcy attorneys at the Koehler Law Office today.

How Does Chapter 11 Bankruptcy Work?

Chapter 11 bankruptcy works by creating a reorganization of payments or a payment plan for a business or company. During the repayment time, the company is allowed to stay open and operate to make money that is used to pay the creditors. Once the payment plan is complete, the debtor is no longer responsible for repaying those debts and the company may be released back to them and they can earn a profit on it.

What If I Don’t Understand The Chapter 11 Bankruptcy Process

Bankruptcy can be complicated and confusing and you shouldn’t be ashamed if you don’t understand it. Don’t let your confusion stop you from filing and saving your business. Talk to an attorney who will explain the entire process to you and help you feel comfortable with your choice to file. Your attorney will even walk you through each step of bankruptcy so you get the best results possible.

If you are living in Hawaii and are wondering if chapter 11 bankruptcy is right for you, talk to bankruptcy attorneys at the Koehler Law Office today. Call (812) 785-8191 .