Chapter 11 Lawyer
Klein Law Group offers legal guidance to individuals in South Florida considering Chapter 11 bankruptcy, with offices conveniently located in Boca Raton, Fort Lauderdale and West Palm Beach, FL. Chapter 11 bankruptcy lawyers will offer options available to South Florida residents that are interested in debt reorganization opportunities afforded under federal bankruptcy law, even if outstanding debts exceed the debt limits established for Chapter 13 bankruptcy. It is designed to protect both individuals and businesses facing serious financial challenges, and the attorneys at Klein Law Group have the experience and knowledge necessary to represent individuals in South Florida filing Chapter 11 bankruptcy.
Chapter 11 bankruptcy for individuals is similar in many ways to Chapter 13, requiring that debt is repaid according to a monthly payment plan that spans 3 – 5 years. This form of bankruptcy protection can restructure debt, prevent home foreclosure or vehicle repossession, stop IRS collection procedures and halt harassment by creditors. Chapter 11 bankruptcy does not require the liquidation of assets and allows debtors to retain most assets, as long as payments are made according to an agreed upon monthly payment schedule. However, the process for filing is a complex one at best, and requires the skills of an experienced lawyer.
Due to the fact that Chapter 11 bankruptcy filing is a more cumbersome process than other bankruptcy options, and it entails higher filing and legal fees as well as very detailed reporting requirements, this form of bankruptcy protection is not often used by individuals. It is more typically utilized by businesses that are facing financial difficulties, but it also provides an opportunity for individuals with secured debt in excess of $1 million to reorganize their debt, even if they do not meet the qualifications that entitle them to Chapter 13 bankruptcy protection. Although is a more complex and costly process than other forms of bankruptcy filing, it offers greater flexibility and an unlimited debt ceiling, making it an attractive option to some individuals.
At Klein Law Group law firm, we have the experience, knowledge and compassion to take you through the complex process of Chapter 11 bankruptcy. For individuals facing insurmountable debt, we provide an opportunity to take control of your financial future, even when other forms of bankruptcy protection seem out of reach, allowing you to start fresh. We know what it takes to handle bankruptcy in South Florida for individuals with excessive debt and can provide you with the experience, information and guidance you need to set you on the path to financial recovery.
With so much at stake when individuals file Chapter 11 bankruptcy, it’s important to utilize the services of a law firm that you can trust. At Klein Law Group, we are knowledgeable about all aspects of bankruptcy law for individuals and are as dedicated and compassionate as we are experienced and tenacious. We can help you navigate this difficult process, providing you with information and strategies along the way, so you can successfully restructure your debt and start with a clean slate.
We invite you to learn more about Chapter 11 bankruptcy through the resources we have included on our website. We also welcome individuals considering bankruptcy to give us a call to set up a free consultation with one of our experienced attorneys. During this no-fee, no-obligation meeting, we will discuss the unique aspects of your financial situation and provide you with the information you need to determine if Chapter 11 bankruptcy will help you get back on the road to financial health. We will also evaluate whether you qualify for protection under Chapter 13, an easier and less costly option that may be available to individuals interested in debt reorganization benefits afforded under federal bankruptcy law.
To speak with one of the experienced attorneys at Klein Law Group or to schedule your free consultation, call us at (561) 353-2800 or fill out the contact form on the side of this page. Our trusted attorneys have offices in Boca Raton, West Palm Beach and Fort Lauderdale.
Call Klein Law Group at (561) 353-2800 to speak to one of our attorneys. We provide you with the freedom to start fresh.
Boca Raton Chapter 11 Bankruptcy Lawyer FAQs
Chapter 11 bankruptcy is similar to Chapter 13 bankruptcy in that it allows for the reorganization or restructuring of debt. This form of bankruptcy is available to both individuals and businesses, and is more often used by businesses due to the higher fees and more complex reporting requirements that accompany Chapter 11 filing. However, for individuals with debts in excess of the debt ceiling imposed under Chapter 13 (unsecured debts of $360,475 and secured debts of $1,081,400), Chapter 11 provides protection for debtors as established by federal bankruptcy law. During Chapter 11 bankruptcy, debt is restructured into a monthly payment plan that spans 3 -5 years and the amount you are required to pay is based on a calculation of your disposable income, after necessary and reasonable living expenses are considered. Chapter 11 bankruptcy allows you to retain a greater portion of your assets than other forms of bankruptcy protection and offers increased flexibility and debt discharge opportunities.
Chapter 11 bankruptcy is an option available to businesses, both large and small, unlike Chapter 13 that cover only individuals. It also benefits individuals that have debt in excess of the debt limits set by Chapter 13 (unsecured debts of $360,475 and secured debts of $1,081,400) and can help these individuals improve their financial health through a structured debt repayment plan. Chapter 11 bankruptcy, however, is a complex and cumbersome process that entails higher filing and legal fees, as well as very detailed reporting. It is a bankruptcy option that is best undertaken only by an experienced lawyer.
For individuals considering filing for bankruptcy protection, the more common option is to file Chapter 13 rather than Chapter 11. This is because Chapter 11 is a more complex process that requires more extensive reporting, more involved legal representation and higher fees. The primary reason that individuals in South Florida choose Chapter 11 bankruptcy over Chapter 13 is if the amount of their debt exceeds the debt ceiling established under Chapter 13 bankruptcy law (unsecured debts of $360,475 and secured debts of $1,081,400). Even if debt limits are too high for Chapter 13, Chapter 11 still provides an option for individuals to restructure debt, prevent home foreclosure or vehicle repossession, stop IRS collection procedures and halt harassment by creditors.
If you are individual facing serious financial difficulties and do not qualify for either Chapter 7 or Chapter 13 protection, then Chapter 11 bankruptcy is an option to consider. This option can help you restructure your debt, stop IRS collection procedures, prevent foreclosure on your home, avoid repossession or your car and can prevent creditors from harassing you. It provides you with the opportunity to reorganize your financial situation and puts you back on the path to financial recovery.
Filing Chapter 11 is by no means a simple process, but for some individuals it can be worth the difficulty. It is important, however, to first explore other bankruptcy options and if you determine that Chapter 11 is for you, you should find a South Florida Chapter 11 bankruptcy attorney that you can trust.
Chapter 11 bankruptcy is a very complicated process, lasting between 3 -5 years, and lawyers at Klein Law Group will be with you every step of the way. We will first offer you a free, no-obligation consultation so that together we can determine if Chapter 11 bankruptcy is right for you, or if you would be better served by another filing option. During this meeting we will provide you with information, answer your questions, and discuss your options.
If you decide to proceed with filing Chapter 11, we will assist you in filing all required paperwork and documentation and will serve as the source of contact between you and your creditors. We will provide you with any information and strategies you need to navigate the difficult process towards Chapter 11 bankruptcy discharge.
You can rely on the lawyers at Klein Law Group to guide you through every step of the Chapter 11 process, from initial filing through to bankruptcy discharge. We pride ourselves on not only our knowledge and experience, but our compassion and dedication to our clients.
We offer legal services in Boca Raton, West Palm Beach, Delray Beach, Boynton Beach, Fort Lauderdale, and surrounding areas.