If your business is struggling because of the economy, you may be tempted to file for Chapter 11 bankruptcy to protect yourself from creditors and reorganize your business debts. The unfortunate reality is that very few small businesses that have filed for Chapter 11 succeed without the assistance of a skilled lawyer. There are also other alternatives to simply closing your doors.
Michael J. Rose PC provides the sophisticated analysis and experience in small business bankruptcy to help you choose the best option for your circumstances. We invite you to a free consultation about your closely held, family-owned business, or other small business entity structure in Oklahoma.
Chapter 11 bankruptcy provides a stay from creditor actions and allows the business to make good on debts over a period of time. However, we have represented clients who filed for Chapter 11 on the advice of other attorneys, when there was no reasonable hope of long-term viability. Those clients spent thousands of dollars with nothing to show for it.
Our attorney will sit down with you to look realistically at your projected income, fixed costs, taxes, variable expenses, and secured and unsecured debts:
The decision to pursue small business bankruptcy, to liquidate, to negotiate, or to cut your losses and walk away depends on specific criteria. We have the background in bankruptcy law and creditor litigation to help you make an informed decision.
From our law office in Oklahoma City, we serve clients in Lawton Enid, Norman, Edmond, Shawnee, Chickasha, Yukon, El Reno, Midwest City, Kingfisher, and Canadian County, Cleveland County, and Logan County. services.