Business Bankruptcy - Using The Services Of The Theodore Stapleton Law Offices

By Author: theodorestapletonlaw
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Theodoreapleton Law Offices is a pioneer in representing businesses, individuals, and government entities throughout Georgia. Our office in Atlanta has handled cases ranging from personal bankruptcy to corporate and commercial Bankruptcy. For many years, we have worked closely with our local, state, and federal officials to assist them in addressing issues that can affect your business and its creditors. If you have found that you are no longer able to manage your business or are facing financial difficulties and believe that it may be time to liquidate your assets, our personal lawyers can help you through this difficult process.
If you are faced with liquidation or bankruptcy because your business is unable to meet its obligations, our Georgia Bankruptcy Attorneys can assist you and guide you through the process. In Georgia, there are two types of bankruptcy: non-recourse or recourse. Non-recourse chapters allow creditors to pursue the delinquent accounts regardless of the business' inability to repay. Recourse chapters require the business owner to repay the debts in order to discharge them. As a result, creditors may ...
... only be paid if the business is able to meet its financial obligations.
As a business owner, if your company has filed Chapter 11, the court will appoint an "amicitor" or third party to negotiate on your behalf. Generally speaking, anamicitors are investment bankers who generally try to recover the most money for your business by negotiating the debt-ridden business with your creditors. In most instances, a creditor agrees to accept a settlement or payment plan that will likely result in reduced interest and charges on outstanding credit balances.
The primary objective of the business bankruptcy lawyer assigned to your case is to protect your creditors while negotiating your debts with your business' lenders. If you have filed Chapter 11, creditors can garnish your wages, keep you away from your home and interfere with your ability to obtain credit or employment. The court appoints an "amicitor" who has extensive experience dealing with your type of business. The Theodorestapleton Law Offices represents the best interests of our client's throughout the process.
We offer a unique service designed to help our clients with the complex task of business bankruptcy. Our bankruptcy attorneys are knowledgeable in all aspects of the business bankruptcy law and the federal law specifically. They will work with you and your creditors in negotiating a debt management plan (DMP). The DMP will be agreed upon between the two parties and is typically comprised of the elimination or payment of a large percentage of the outstanding debt. This helps to ensure that your creditors do not become involved in the process of collection efforts and eliminate their involvement in your personal finances.
Credit card companies are not the only groups that can take advantage of a debtor in the process of filing for bankruptcy. Entrepreneurs with personal bankruptcy can also use the services of the Theodorestapleton Law Offices to eliminate business debt. This includes the miscellaneous debts of the entrepreneur such as credit cards, personal loans and student loans. By reducing or eliminating these types of debt, entrepreneurs will also be able to improve their credit score, which will help them in other areas of their life. With our experienced and qualified lawyers, consumers can receive the help they need and get on the road to improving their credit history.