Washington business and real estate lawyer Jeff Helsdon discusses whether or not a Chapter 11 bankruptcy is the right choice for you.
When comparing different bankruptcy options, you may have a lot of questions about which plan would work better for you. A Chapter 11 bankruptcy plan is available for both individuals and business, small and large. The advantage of a Chapter 11 bankruptcy is that you are able to restructure your debt and still remain in business. This plan allows you to work day to day, but rebuild your credit and debt relationship while you do so.
If you have knowledge in the bankruptcy field, you may want to file for bankruptcy yourself. And that is an option, but you should know there are a lot of details and decisions that must be made to not only file but continue with the plan. As an individual this is possible. However, a business may not file a Chapter 11 bankruptcy by them, this is against the law. A business must have an attorney guide them through this very detailed process. Watch the video now to learn more.
For more information about business law and my firm, visit our educational website at tacomalawfirm.com, where you can view more information on all types of bankruptcy plans. If you have legal questions, I want you to call me at (866) 309-1031. I welcome your call.
Oldfield & Helsdon, PLLC
1401 Regents Blvd., Suite 102
Fircrest, WA 98466