Call 770-609-1247 to Speak With an Experienced Georgia Bankruptcy Lawyer.
Our bankruptcy legal team has over fifteen years of helping people and businesses deal with crushing debt and get immediate relief.
A Chapter 11 bankruptcy allows businesses and individuals to create a new plan to settle and repay debt in a more manageable solution. Individual filing of Chapter 11 is uncommon because of the complications within procedure and the cost. Business filings of a Chapter 11 seek to revitalize and reorganize a business to function more viably financially.
Types of companies that can file for Chapter 11 bankruptcy include those with purchase contract problems, lease issues, or past debt mishandling. In a Chapter 11, these companies must continue to cover all normal operating costs while they operate, but past debt is momentarily put “on-hold”. The company must file to the local Federal court their monthly expense reports as well as their “disclosure statement” so that it can gauge the company’s financial standing. A disclosure statement includes the company’s history, where it stands now, and a future plan to reestablish itself. After the Court approves the company’s plan, the case is no longer under direct Court management and the business must complete the plan over its due time.
This plan must detail how much the company will pay back to its creditors, the percentage each creditor can claim, payment lengths, and any purchase contract cancellations. Factors that affect how much the company pays monthly include the company’s financial ability as well as liquidation value and whether the debt is secured. Creditors can decide whether to accept or reject the debtor’s proposed solution.
Weekend and Evening Appointments Available: Do you have a busy week? Can only come in to the office after hours? Just call us at 770-609-1247 and ask for a consultation at a time that is convenient for you.
Call 770-609-1247 or Contact Us Below To Speak With an Experienced Bankruptcy Attorney
Bankruptcy Attorneys – Georgia Areas We Serve
Coleman Legal Group, LLC handles cases in the following cities and communities: Atlanta, Alpharetta, Roswell, Johns Creek, Milton, Cumming, Marietta, Sandy Springs, Woodstock, Kennesaw, Gainesville, Norcross, Lawrenceville, Midtown, Inman Park, Duluth, Buckhead, Dunwoody, Vinings and Smyrna.
Coleman Legal Group, LLC’s Georgia lawyers practice in the areas of Real Estate, Divorce, Family Law, Bankruptcy, Estates, Wills, Trusts, Sports and Entertainment Law, Immigration and Business Law. We have offices conveniently located at:
| Alpharetta Georgia Park Woods Commons 11539 Park Woods Circle Suite 304 Alpharetta, GA 30005 Phone: 770-609-1247 | Map |
Atlanta Georgia |
| Dunwoody, Sandy Springs GA 400, Atlanta Georgia 1200 Abernathy Rd Building 600 Atlanta, GA 30328 Phone: 770-609-1247 | Map |
Cumming Georgia |
| Johns Creek, Duluth GA 11555 Medlock Bridge Road Suite 100 Johns Creek, GA 30097 Phone: 770-609-1247 | Map |
Duluth Georgia |
| Kennesaw Georgia TownPark Center 125 TownPark Drive Suite 300 Kennesaw, GA 30144 Phone: 770-609-1247 | Map |
Lawrenceville |
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