Honolulu Chapter 11 Bankruptcy Lawyer
Get the Financial Freedom You Deserve with Donald L. Spafford, Jr.
Chapter 11 bankruptcy is a viable option for businesses that are looking to reorganize their finances. While Chapter 7 bankruptcy is a great option for individuals and corporations that are looking to liquidate their assets, Chapter 11 bankruptcy is a better option for businesses that wish to keep their assets and operations.
If you are a business owner who is struggling with financial obligations, it is imperative that you seek guidance from a qualified Chapter 11 bankruptcy lawyer in Honolulu. With over 30 years of experience, Donald L. Spafford, Jr. is the right person to help you navigate the bankruptcy process and develop a plan that will help you get back on your feet.
To schedule a free initial consultation with our Honolulu Chapter 11 bankruptcy lawyer, contact Donald L. Spafford, Jr. at (808) 698-6277 now.
How Does Chapter 11 Work?
Chapter 11 bankruptcy is a legal process that helps businesses reorganize their finances. The primary goal of Chapter 11 is to help debtors develop a plan to repay their creditors. Debtors have the opportunity to propose a plan to the court and their creditors, who will vote on whether or not they agree with the terms of the plan.
Once the creditors vote on a plan, it will be reviewed by the court. If the court approves the plan, the debtor will be required to follow the plan's guidelines in order to repay their creditors. If the debtor fails to follow the plan's guidelines, the court may not approve the plan and the debtor will be forced to liquidate their assets.
What Types of Businesses Can File for Chapter 11?
Chapter 11 is a viable option for many different types of businesses. Businesses that file for Chapter 11 typically include corporations, LLCs, partnerships, and other business entities. Businesses that file for Chapter 11 will also typically have between 100 and 999 creditors.
Individuals who have significant amounts of debt may also consider filing for Chapter 11. If you have significant amounts of debt, you may wish to consider filing for Chapter 13 bankruptcy.
What Are the Benefits of Chapter 11?
Chapter 11 is a great option for businesses that wish to keep their operations, but are struggling with unmanageable debt. When businesses file for Chapter 11, they have the opportunity to develop a plan that will help them repay their debt. This may be an attractive option for businesses that wish to keep their operations and would like more time to pay back their creditors.
Get the Assistance You Need from Donald L. Spafford, Jr.
Chapter 11 bankruptcy is a complex legal process that requires a significant amount of attention to detail. If you are a business owner who is considering filing for Chapter 11, it is crucial that you hire an experienced and dedicated attorney who can help you navigate the legal process.
Donald L. Spafford, Jr. has helped numerous clients file for Chapter 11 and develop successful plans to repay their debt. If you are considering filing for Chapter 11, it is in your best interest to contact our firm and speak with our Honolulu Chapter 11 bankruptcy lawyer.
Call (808) 698-6277 now or contact us online to learn more about how Chapter 11 can help your business.
At the Honolulu offices of Donald L. Spafford, Jr., Attorney at Law, we have counseled individuals and businesses for over 40 years. We handle a broad range of legal issues for small businesses on the island, from business formation to commercial litigation. We place a high priority on customer service and affordable rates. Contact us today, to help end your bankruptcy issues.Contact Us