Businesses, corporations and partnerships in the Dallas area that carry huge debt loads and struggle to pay their bills may find relief through filing Chapter 11 bankruptcy. This method of filing for bankruptcy provides businesses or individuals with more time to pay off their debts; in some cases up to six years to pay state and federal back taxes.
Engel Law Group, P.S., is home to debt relief attorneys who are familiar with all forms of bankruptcy; attorneys who can guide you through the necessary steps to successfully file for Chapter 11 bankruptcy.
Our legal team knows that you’ve spent your life working on your business, spending time and money to make it something of your own. Losing it because of harsh financial times and an unforgiving economy isn’t what you planned. Your bankruptcy and collections defense lawyer can protect you from your creditors so you can restructure your business and become profitable once again.
Another benefit of Chapter 11 bankruptcy is that it provides protection from creditors. Businesses have breathing room to reduce overhead expenses and increase profits when they are protected from creditors, and they do have to worry about dealing with debtors or responding to threatening lawsuits.
Under Chapter 11, a business can become financially viable to the point that it can begin to pay back debt. After this has begun, the next step is positive financial growth and a clean credit slate.
For comprehensive guidance and professional legal help with your Dallas credit restoration, contact the professionals at Engel Law Group, P.S..