Seattle Chapter 11

Seattle Chapter 11 bankruptcy is a reorganization plan, under which the debtor has a specific period of time to propose exactly how he or she will repay what they owe.  Although the number of Chapter 11 filings was decreasing at the start of the millennium, it still remains one of the most common ways to file for bankruptcy. 

In most cases, the filers can take up to 120 days to formulate their plan. After that period, creditors who stand to lose money from the bankruptcy can also propose their own plan. Any proposed plan must meet certain criteria in order to be approved by the bankruptcy court. 

A bankruptcy attorney can assist you in filing for Seattle Chapter 11 bankruptcy by ensuring your plan meets these criteria and is feasible for you to accomplish within the allotted time.

Business bankruptcy in Seattle

Seattle Chapter 11 bankruptcy requires that all creditors cease their collection attempts on your business assets, since you have already made it clear you are making every attempt to re-pay them.  This can take a great deal of stress off your mind, as well as allow you to get back to running the day-to-day operations of your business and work to make it solvent once again. 

Although creditors can request the court liquidate your business in order to increase the rate or amount of their repayment, the attorneys at Carrington Law, P.C. will work against this plan if it is determined not to be in the best interest of yourself or your business.

Seek an experienced attorney for Chapter 11 bankruptcy in Seattle

When filing for business or personal bankruptcy, you need a Seattle Chapter 11 bankruptcy attorney who will work patiently and tirelessly to craft a plan that benefits you both today and in the future.  At Carrington and Law, P.C., we know how closely finances are tied to your quality of life. With over 40 years of combined experience, we can provide a bankruptcy lawyer who cares about that quality as much as you do.   To schedule a consultation to discuss Chapter 7, Chapter 13 or Chapter 11 in Seattle, contact Carrington Law, P.C. today.