Individual Debt Relief Through Chapter 11 Bankruptcy
Attorney Robert M. Stahl of Law Offices Robert M. Stahl LLC, brings a unique level of experience, knowledge and skill to the practice of law.
In particular, our law firm provides sound counsel and representation in Chapter 11 and other types of bankruptcy for clients throughout the Baltimore, Maryland, area. We provide detailed analysis of our clients’ financial situations and help them determine the best course of action to obtain debt relief. Call us to stop foreclosures, wage garnishments and IRS collections.
When To Consider An Individual Chapter 11 Bankruptcy
Although Chapter 11 is usually used for business entities, it can also be a valuable debt-relief tool for individuals who fall into one of four categories:
- An individual who has a lot of complex, usually business-related debt but also a lot of assets and/or high income, which can be used to fund or otherwise support a Chapter 11 plan
- An individual who does not fall within certain parameters required for Chapter 7 or Chapter 13 bankruptcy
- An individual with a business that could be disrupted by a Chapter 7 bankruptcy
- An individual who needs to reorganize debt but who also needs greater flexibility in order to accomplish his or her goals
The process of filing a Chapter 11 bankruptcy case and obtaining confirmation of the debtor’s Chapter 11 plan can be quite complex and costly. Accordingly, most Chapter 11 bankruptcy cases are filed by business entities. However, individuals are not precluded from seeking Chapter 11 relief, and in appropriate cases – usually involving individuals with large liabilities or engaged in complex business dealings – Chapter 11 bankruptcy may be the best solution for an individual with financial problems.
By and large, chapter 11 is a type of bankruptcy reserved for business and corporate reorganizations. Chapter 11 shares many of the qualities of a chapter 13, but tends to involve much more complexity on a much larger scale.
Get The Help Of An Experienced Lawyer
With the complexities and challenges involved with Chapter 11 bankruptcy, it is critical to work with an attorney you can trust, someone who understands the process and can provide you with the help and counsel you need. Law Offices Robert M. Stahl LLC, is a trusted name in debt-relief in Maryland.