Filing Bankruptcy can offer businesses and individuals and a fresh start. I'm here to help.
Chapter 11 Business & Consumer Bankruptcy
Why To File: High-income individuals and businesses that intend to stay in operation will likely file for bankruptcy relief under Chapter 11. A Chapter 11 case can be complicated and expensive, but like other bankruptcies the results can be a new beginning with hope for a better financial future.
Selecting an Attorney: I've represented both Consumers and Businesses in Chapter 11 cases in Los Angeles, Orange, Riverside and San Diego Counties. I am particularly well-suited to handle small to medium size Chapter 11 cases. My hourly fee is reasonable and I won't take your case if I don't believe that bankruptcy can help your situation.
The Process: Shortly after filing your bankruptcy petition (about 7 days) you'll have an initial meeting with the United States Trustee to discuss the requirements of a Chapter 11 case. Before the initial meeting the Trustee will want to receive evidence regarding the assets and financial conditions of the debtor, and proof of insurance. About a month after filing you'll have a Meeting of Creditors.
Chapter 11 cases normally include both a Disclosure Statement to creditors and a Plan of Reorganization. These items can be quite lengthy. Confirmation of a debtor's Plan is dependent on creditors voting to approve the plan. This is a very brief and incomplete description of a Chapter 11 case, many of which include creditor objections and adversary proceedings. A monthly operating report must be prepared and filed and quarterly fees must be paid to the U.S. Trustee. Subchapter V may provide a method to reduce the time and expense of some Chapter 11 cases.
For consumers, a bankruptcy discharge will not normally be entered until all payments under the plan have been made (3-5 years). For business debtors, a bankruptcy discharge may be entered upon confirmation of the plan.
The Next Step: Every case is different. If you're thinking about bankruptcy, it's best to discuss your situation with a knowledgeable attorney. A phone call, text, or email is the first step. If it looks like bankruptcy could be the right move for you, the next step would be a longer phone call, an in-person meeting, or Zoom call.
Selecting an Attorney: I've represented both Consumers and Businesses in Chapter 11 cases in Los Angeles, Orange, Riverside and San Diego Counties. I am particularly well-suited to handle small to medium size Chapter 11 cases. My hourly fee is reasonable and I won't take your case if I don't believe that bankruptcy can help your situation.
The Process: Shortly after filing your bankruptcy petition (about 7 days) you'll have an initial meeting with the United States Trustee to discuss the requirements of a Chapter 11 case. Before the initial meeting the Trustee will want to receive evidence regarding the assets and financial conditions of the debtor, and proof of insurance. About a month after filing you'll have a Meeting of Creditors.
Chapter 11 cases normally include both a Disclosure Statement to creditors and a Plan of Reorganization. These items can be quite lengthy. Confirmation of a debtor's Plan is dependent on creditors voting to approve the plan. This is a very brief and incomplete description of a Chapter 11 case, many of which include creditor objections and adversary proceedings. A monthly operating report must be prepared and filed and quarterly fees must be paid to the U.S. Trustee. Subchapter V may provide a method to reduce the time and expense of some Chapter 11 cases.
For consumers, a bankruptcy discharge will not normally be entered until all payments under the plan have been made (3-5 years). For business debtors, a bankruptcy discharge may be entered upon confirmation of the plan.
The Next Step: Every case is different. If you're thinking about bankruptcy, it's best to discuss your situation with a knowledgeable attorney. A phone call, text, or email is the first step. If it looks like bankruptcy could be the right move for you, the next step would be a longer phone call, an in-person meeting, or Zoom call.
Section 528 Required Disclosure: The services and benefits I provide may involve relief under the U.S. Bankruptcy Code. Services will include reviewing your assets, liabilities, income and expenses and assisting in a determination if bankruptcy is right for you. In Chapter 13 cases, monthly payments will usually be required to be made to a trustee who will distribute payments to creditors. Confirmed Chapter 11 plans often require debtors to make payments directly to creditors. My services include helping you understand the requirements which must be met before receiving a discharge of your debts.
Contact Information - Serving Southern California and Beyond
Phone: (913) 593-0137 Email: [email protected] Mail: Law Office of Link W. Schrader, P.O. Box 4097, Tustin, CA 92781
Disclaimer: Nothing herein is intended to be legal advice or to create an attorney-client relationship. I invite you to contact me to determine if my services are right for you. Please do not include any confidential information in initial email correspondence. I may be representing a party with interests adversarial to yours! Thank you, Link