How to Avoid Bankruptcy
When individuals and businesses find themselves faced with serious financial problems, they are often surprised to learn that filing bankruptcy may not be necessary. In fact, at The Lobel Firm, L.L.P., our attorneys consider Chapter 11 bankruptcy a last resort. We consider a case a true victory only if we are able to avoid bankruptcy. One of the methods we use to avoid bankruptcy is debt workouts and restructuring.
A Look at Our Strategy
While debt workouts and restructuring are intricate, essentially what we are doing is negotiating with each of the client's creditors, either individually or as a group.
In order for negotiations to be successful, we have to clearly communicate to the creditors. We must present to them a thorough and well-prepared Chapter 11 plan so they can see exactly what the outcome would be for them if the client filed. We need to convince them that, with more than 40 years of experience on our side, we would be able to accomplish exactly what we have laid out in the plan. Given our nationally recognized reputation as leading bankruptcy authorities, we find that many creditors are willing to hear us out when we explain that, if they are willing to restructure the debt, it will be more financially advantageous than if the client filed Chapter 11 bankruptcy.
How You Benefit From Debt Workouts and Restructuring
The benefits of debt workouts and restructuring are obvious: the client's debt problem is resolved. Assets and businesses are preserved. In addition, the client avoids the expense of Chapter 11 bankruptcy, which is often substantial.
To discuss your case with one of our Southern California debt workout lawyers, call 949-791-9642 or contact us via e-mail.
