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What Is Chapter 11 Bankruptcy?

If your small business is under water, Gross & Patterson, LLC in Pittsburgh, Pennsylvania, can help. If you are an individual and owe less than $336,900 in unsecured debt and $1,010,650 in secured debt our attorneys can look at filing Chapter 13 bankruptcy. If you are an individual and owe more than that, you won't qualify for Chapter 13 and we recommend filing for a Chapter 11 or "reorganization" bankruptcy.

Serious concerns call for learned advice. Whether you are a sole proprietor, partnership or corporation, turn to an accomplished attorney at Gross & Patterson, LLC for an initial consultation at (412) 567-4732.

We gather information to assess the types of debts you have, and recommend the best reorganization plan. Individual debt is may be reorganized under a Chapter 13 or wage earners plan.

Keep Your Small Business Going

Filing for Chapter 11 bankruptcy may be the best way to stay in business. We examine all the secured and unsecured debts you have, including:

  • Money owed to the IRS
  • Tax and mortgage payments
  • Types of creditors and amounts owed
  • Money owed to vendors

We review all the facts, including special circumstances affecting your small business. Then we recommend the best solutions.

Bankruptcy law is federal law. Under a Chapter 11 reorganization plan, you continue to run your business, and stay in control of assets. The Bankruptcy Court must approve all major financial decisions impacting your business. When Chapter 11 is filed, an automatic stay applies, protecting you from creditors hounding you for payments.

Chapter 11 bankruptcy is just one tool in our financial first aid kit. We may recommend liquidating your business, renegotiating a loan or entering into a forbearance agreement. That means that your lender agrees not to foreclose on your small business so long as you continue making regular payments.

Pennsylvania Success Stories

Here is an example of what a lawyer can do:

A small business was obligated to pay $6,000 a month in rent to their landlord, their only creditor. The debtor was able to reject the lease, and renegotiated another lease costing less per month. With the money saved, the debtor was able to reorganize and stay in business.

Contact us today for a free initial consultation.

To get started, complete our bankruptcy intake form and get common questions answered.

Our Office Location:

Gross & Patterson, LLC
210 Grant Street, Suite 401
Pittsburgh, PA 15219
Phone: 412-567-4732
Toll Free: 888-685-4482
Fax: 412-553-0142
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Serving clients throughout the Pittsburgh area:

The bankruptcy lawyers of Gross & Patterson, LLC, serve clients in Pittsburgh, Monroeville, Sewickley, Bethel Park, Mt. Lebanon, McKeesport, Penn Hills, Cranberry Township, Peters Township, Canonsburg, New Kensington, Kittanning, Greensburg, Latrobe, Charleroi, New Castle, Sharon, Erie, Uniontown, Indiana, Altoona, Johnstown, Allegheny County, Beaver County, Butler County, Washington County, Westmoreland County, Fayette County, Lawrence County, Mercer County, Armstrong County, Indiana County, Somerset County, Erie County, Greene County, Cambria County and Blair County in western Pennsylvania, including the North Hills, South Hills and Mon Valley.
 

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We are a debt relief agency. Our attorneys help people file for bankruptcy relief under the Bankruptcy Code.

Gross & Patterson, L.L.C. Pennsylvania Bankruptcy Attorneys