In times of economic upheaval, the greatest tragedies are those businesses that are forced to close their doors after years of being an established and productive contributor to the community’s economic landscape. And one of the most difficult decisions both small business owners and high profile CEOs alike share is whether or not to file for business bankruptcy. For many Arizona business owners, filing for business bankruptcy is akin to waving the white flag of failure and they’re afraid that they’ll be personally and professionally ruined by doing so. But, as you’ll see, this isn’t always the case.
What is Chapter 11 Business Bankruptcy?
Business, much like life, is full of ups and downs. Many businesses are prepared to handle the inconsistencies of the marketplace, but not all of them are. For some, the financial burden of trying to operate a successful business continues to grow, and with increased debt, stress and worry also escalate.
This is where a Chapter 11 business bankruptcy in Arizona can help. In Chapter 11, businesses get to keep their doors open while debts are paid through a reorganization plan approved by the court.
With Chapter 11, your business can continue to make money, your employees can retain their jobs and salaries and you’ll receive the time you need to plan for the future of your business without the threat of creditors taking action against you.
Save Your Business in Arizona with Chapter 11 Bankruptcy
Each bankruptcy case is unique, but immediately upon filing for Chapter 11, there is an automatic stay imposed against your creditors. This ceases all collection activity (including evictions and garnishments), harassing phone calls, emails and other threatening forms of communication. By filing a Chapter 11, a business in trouble can protect their franchise and restructure their assets for a more profitable and manageable future.
Hassle-Free Bankruptcy Help for Businesses in Arizona
The Frutkin Law Firm, PLC helps troubled businesses in Arizona find the bankruptcy answers they’re looking for. We understand that each client is unique and therefore, provide each with a free comprehensive consultation so we can fully understand their situation. By investing this time, we can provide the best recommendation possible for those exploring bankruptcy protection.
At the Frutkin Law Firm, PLC, we know you’re dealing with a high level of stress and you’re worried about your business and your employees. This is why we offer hassle-free, sensitive and professional help to those who need it. If you own a business that’s currently experiencing overwhelming financial troubles, filing for Chapter 11 business bankruptcy in Arizona may be a valid solution. Contact the Frutkin Law Firm, PLC today to schedule a free consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. This web site is designed for general information only.
The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
About the Author:
Carolyn R. Tatkin has over 25 years of broad legal experience in areas including insurance coverage and bad faith litigation, construction defect litigation, general business and commercial litigation, as well as a concentration in business and consumer bankruptcy law. Her experience includes both trial and appellate work in state and federal courts, encompassing all aspects of motion practice and oral advocacy, including oral arguments before the Ninth Circuit Court of Appeals and the Ninth Circuit Bankruptcy Appellate Panel. Ms. Tatkin has also been a presenter and co-author of materials for several state and county bar sponsored bankruptcy seminars, from basic to more advanced levels of bankruptcy expertise.