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Making your company more profitable while filing for bankruptcy

If you are struggling with unmanageable debts as a business in the state of Florida, it is likely that one of the primary reasons for this is because of an unhealthy cash flow. This has meant that the interest rates associated with debts have led to the situation getting out of control.

Many business owners do not see the potential of bankruptcy programs to help their company get out of debt, perhaps because they see it as a repayment plan rather than an opportunity to restructure their business. However, it is important to note that there are many different bankruptcy chapters that have been tailored to different situations so that they provide the maximum form of assistance to struggling debtors.

How can Chapter 11 bankruptcy help my business?

Chapter 11 bankruptcy has been known to be particularly useful for businesses who are struggling with debts. After the petition has been filed for Chapter 11 bankruptcy, an automatic stay is put into place. This means that all creditors must stop their collection activities for a period of time.

In addition, and perhaps most importantly, filing for Chapter 11 bankruptcy can be beneficial for a business because it means that the company will go through a process of reorganization. The aim of this reorganization is for the business to become more efficient and profitable so that these profits can help pay off existing debts.

If you are a business owner in the state of Florida and you are struggling with debts, filing for Chapter 11 bankruptcy may be a great solution. An experienced attorney can help you learn more about the bankruptcy options that are available to you.