Cedar Rapids Chapter 11 Bankruptcy
Largely because of the uncertain state of our current economy, many businesses are struggling to make ends meet. In order to help their business to resolve their outstanding financial obligations, many owners are turning to chapter 11 bankruptcy. This type of debt restructuring can help business stay on track in the future and avoid unnecessary penalties for late payments.
If you are interested in chapter 11 bankruptcy options, the Cedar Rapids bankruptcy lawyers of Hong Law, PLC are happy to review your situation and help you make decisions about what is best for your business. Contact us at 319-623-1400 for more information.
Understanding Chapter 11 Bankruptcy
Chapter 11 bankruptcy is available to both private consumers and businesses, but independent parties rarely utilize this form of bankruptcy. By choosing to restructure your business’ finances with this tool, you may be able to:
- Keep your business running during the bankruptcy proceedings
- Avoid harassment from creditors
- Request protection for certain debts
Bankruptcy may be a viable option for businesses owners that believe their company can be profitable again once debts have been eliminated. You don’t have to suffer the frustration of creditor harassment, lender threats, and further monetary penalties. By retaining the services of an experienced legal professional, you may be able to make the decision that is best for your business.
The Cedar Rapids bankruptcy lawyers of Hong Law, PLC can help you save your business from the unwanted repercussions of unpaid debts. Contact our offices at 319-623-1400 to schedule a time to meet with a knowledgeable attorney.
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office