Unexpected financial crisis can hit any small business — even the most well-managed ones. With the right advice from our experienced St. Louis Chapter 11 reorganization lawyer and St. Louis County small businesses debt reorganization lawyer, you can find your way to financial stability. Count on our 35 years' experience in helping save small businesses from difficult debt.
You've worked hard to make your business successful. We'll guide and support your business to recover from extreme debt with Chapter 11 bankruptcy and save your small business from creditors. All your small business may need to get back on track is the ability to put a pause on debt payments. Chapter 11 bankruptcy will allow you several months to reorganize your business's debt. As a rule, Chapter 11 small business debtor is an individual engaged in business / commercial activities with aggregate non-contingent liquidated unsecured / secured debts of not more than $2,000,000 as of the petition date or order for relief date.
If your total business debt is more than Chapter 13 limits, and you wish to stay in business, then filing a small business Chapter 11 bankruptcy is the solution to your debt. The current debt limits are: non-contingent, liquidated, unsecured debts of less than $336,900, and non-contingent, liquidated, secured debts of less than $1,010,650. In Chapter 11 bankruptcy, your small business and you, the owner, will act as the trustee of the business and will become a debtor in possession. It will allow you to stay in control of your business during the whole process and you can continue to make important decisions.