Understanding Business Bankruptcy
Florida Business Bankruptcy Lawyer
What Is Chapter 11 and 7 Business Bankruptcy?
Chapter 11 bankruptcy allows businesses to reorganize their debts and restructure their finances during a time of financial hardship while still staying in operation. Chapter 7 bankruptcy provides an orderly way to close businesses and pay a percentage distribution to creditors based on the value of the business assets. My name is Barbara Cusumano, and in my 25+ years as a Gainesville and North Florida bankruptcy lawyer, I have helped thousands of clients throughout the State of Florida discharge tens of millions of dollars in debt.
Why Choose My Chapter 7 and 11 Bankruptcy Firm?
- Backed by 5-star reviews from clients
- 1,000’s of clients helped to financial freedom
- Decades of bankruptcy law experience
- Flat fees, payment plans and free consultations
If you are the owner of a struggling business in Gainesville, Lake City or the surrounding communities, I can help you consider your debt relief options and work toward a solution that fits your business needs.
Put simply, Chapter 11 is a form of bankruptcy outlined in the U.S. Bankruptcy Code that is typically utilized by corporations, small businesses, and — in some rare cases — private individuals who are struggling to pay off heavy debt loads. Well-known companies including K-Mart, United Airlines, and General Motors have all filed bankruptcy under Chapter 11. This plan allows the business to submit a plan for post-bankruptcy viability. It could include innovative sources of income or cost reductions.
The reorganization plan, if approved by a bankruptcy court judge, effectively buys the business time to rebuild while discharging certain debts.
Call Barbara Cusumano, Attorney at Law Today!
As a Gainesville bankruptcy attorney, I understand the process involved in filing for Chapter 11 and 7 business bankruptcy and the laws that affect your business. Together, we can work toward the goal of paying off your company’s debts while keeping your doors open or closing the doors of your business in an orderly and stress-free fashion. It is a hard choice, but Barbara can help with the solution.
If you have questions about business bankruptcy and whether it is the right solution for you and your business, Barbara can help you assess your legal options and work with you toward viable solutions with the best possible outcomes.