Chapter 11 bankruptcy in Arizona is usually for those clients who either are business owners or do not qualify for or desire a chapter 13, or do not want to or are not eligible to file a chapter 7 bankruptcy case.  Indeed, in chapter 13 bankruptcy cases, whether filed in Arizona or any other jurisdiction in the United States, there is a ceiling on the amount of secured and unsecured debt you are permitted to have.  If you otherwise would qualify for a chapter 13 bankruptcy but you have more than the permissible debt limits for a chapter 13 case, you will probably want to consider an individual chapter 11 case in Arizona.

Chapter 11 cases are more complicated and costly than the other types of bankruptcy cases, such as chapter 7 bankruptcy cases and chapter 13 bankruptcy cases.  However, the alternative (fighting lawsuits, trying to negotiate individually with each creditor, losing assets that are seized by creditors with valid liens or judgments, etc.) often is more costly, time consuming, and aggravating than the chapter 11 process.  Chapter 11 cases do have the advantage for being relatively more flexible than chapter 13 cases, as the debtor has more control over dealing with creditors.  That is, in most chapter 11 cases in Arizona, the debtor will not have a bankruptcy case trustee standing in the way of direct negotiations with creditors.

Chapter 11 Lawyers in Arizona

If you own an Arizona business entity, and you need to file a chapter 11 bankruptcy in order to shed some of its debt, reorganize its finances, negotiate better terms on its contracts, and otherwise prevent the collapse of this viable business entity, then an Arizona chapter 11 bankruptcy case may be the perfect option for your small business entity.  Thomas Law Office can assist the owners and/or managers of the small business entity to analyze whether chapter 11 may be a good option in the particular circumstances the small business entity is facing.  Often, others will be asked to participate in the chapter 11 bankruptcy feasibility analysis, such as accountants, tax attorneys, marketing experts, business appraisers, real estate appraisers, real estate brokers, etc.

Contact Our Chapter 11 Bankruptcy Attorneys

The time to visit Thomas Law Office is at the earliest signs of financial trouble.  Waiting until the last minute can often lead to limited options other than a chapter 11 bankruptcy case.  If you contact our office soon enough, we can try to help you avoid a chapter 11 bankruptcy if that would be a better alternative for the business entity.