With the new bankruptcy legislation, bankruptcy as a debt elimination option is nearly impossible for businesses to obtain without going under. There are two bankruptcy filings for corporations: Chapter 11, where the business continues to run with the protection from creditors, and Chapter 7, which is a liquidation of the company. Under this climate, bankruptcy attorneys are pressuring struggling businesses to use Chapter 11 as a bankruptcy debt elimination option. It is not uncommon for bankruptcy attorney’s to charge $50,000 to $100,000 per Chapter 11 case. Attorneys claim that Chapter 11 bankruptcy is the only option out of debt, yet this is untrue.
While Chapter 11 may seem to help corporation bankruptcy, it does no good unless the company has enough funds in reserve. Chapter 11 is costly, time consuming, and sometimes debilitating to the life of the business. When the corporation does not have the funds to pay for the creditor’s attorneys, their own bankruptcy attorney, plus the extra fees to file bankruptcy, the only other option is to file Chapter 7. In the end, a lot of money is wasted due to the unnecessary filing of Chapter 11 in the first place.
Struggling businesses do have debt elimination options without using bankruptcy. And whereas bankruptcy can take longer than ten years for businesses to be free of your debt, we at BusinessDebtLoans.com offer accelerated debt elimination without bankruptcy option that can be accomplished in about three years or less, depending on the financial situation. Even Congress recommends obligatory professional debt counseling prior to filing business bankruptcy. Business debt consolidation should bring the company back to financial stability, and is a better alternative to filing Chapter 11 (and definitely Chapter 7).
At www.businessdebtloans.com, corporate bankruptcy help without actually filing is encouraged. We show you how you can wipe away as much as 90% of your business debt. We quickly end harassing phone calls from your creditors and show you how to protect your business income and assets from creditors. We also have a network of attorneys available to help you through your corporation debt without resorting to bankruptcy.
With the new bankruptcy legislation, bankruptcy as a debt elimination option is nearly impossible for businesses to obtain without going under. There are two bankruptcy filings for corporations: Chapter 11, where the business continues to run with the protection from creditors, and Chapter 7, which is a liquidation of the company. Under this climate, bankruptcy attorneys are pressuring struggling businesses to use Chapter 11 as a bankruptcy debt elimination option. It is not uncommon for bankruptcy attorney’s to charge $50,000 to $100,000 per Chapter 11 case. Attorneys claim that Chapter 11 bankruptcy is the only option out of debt, yet this is untrue.
