Springfield Chapter 11 Bankruptcy Attorney
Chapter 11 Bankruptcy for Businesses and Individuals
Michael J. Logan, Ltd. · Springfield, Illinois
More Than 3 Decades' Experience as a Bankruptcy Attorney
Call 866-258-6719 or E-Mail
If you are considering filing Chapter 11 bankruptcy, it is important that you have a skilled legal advocate who can protect your rights and the rights of a business. At the office of Michael J. Logan, Ltd., we have years of experience handling a wide variety of bankruptcy law issues. Our firm is sensitive to the needs of individuals and businesses that are facing the possibility of filing for bankruptcy to address their financial difficulties. We work hard to see that your needs are met while all of the legal details are taken care of.
What Is Chapter 11?
Chapter 11 bankruptcy is a form of bankruptcy protection that is similar to a Chapter 13. A Chapter 11 allows for the reorganization of debts in order for an individual or business to repay some or all of the debts according to a court-approved schedule.
If your uninsured (unsecured) debt is over $360,475, you cannot file for a Chapter 13 bankruptcy. However, our firm can advise you on how to go about filing for Chapter 11 under state and federal law.
Chapter 11 is the preferred form of bankruptcy for most businesses. Since there is no limit on the amount of debt that a Chapter 11 can address, this tends to be a positive option for protecting a business.
Filing for bankruptcy does not mean all is lost. Chapter 11 is a way to help and protect your business. Bankruptcy is used to keep a business open, even though bankruptcy has negative connotations. In recent years, many large, prominent and famous corporations have filed for Chapter 11 and emerged from the bankruptcy to begin making a profit again.
For Individuals as Well as Businesses
Though Chapter 11 is commonly considered a "business bankruptcy," individuals with a number of large debts and high assets may not qualify for a Chapter 13 and instead file a Chapter 11. When meeting with attorney Michael J. Logan at our office, being honest with him about your debt may allow us to better recommend a course of action to take when attempting to help you regain control of your finances.
- In addition to handling a Chapter 11 for individuals, we can also file Chapter 7 and Chapter 13 bankruptcies.
Contact Us for a Confidential Case Evaluation
Complete our intake form for a confidential case evaluation by an experienced Chapter 11 bankruptcy lawyer. We can meet with you to review your case and determine how to move forward with your debt relief strategy.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.