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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Our church has pending lawsuits from a building project. Our

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Our church has pending lawsuits from a building project. Our income will not cover the outstanding debt. Do we file chapter 7 or 11 Bankruptcy. Can we keep the building if the Pastor is the guarantee on the Mortgage loan?

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

Customer:

Hello Chris and thank you for your assistance

cfortunato :

A Chapter 7 is filed if the intent is to close the church, and a Chapter 11 would be filed if the intent is to keep the church open.

cfortunato :

You would be able to keep the building if, and only if, the mortgage is being paid, and if the building does not have too much equity.

Customer:

We want to keep the church open.

cfortunato :

Then you would want to file a Chapter 11.

Customer:

The mortgage is being paid. What is a estimated cost for a chapter 11

cfortunato :

$1,000 filing fee, and around $5,000 attorney fee.

cfortunato :

You may be able to find an attorney with a good heart who will charge you little or nothing to file a Chapter 11.

cfortunato :

Perhaps a member of your conregation?

cfortunato :

Perhaps someone in your congregation is a Bankruptcy attorney, and is willing to file for less or pro bono.

Customer:

I am attempting to rate your service however it shows you are offline.

cfortunato :

Thank you.

Customer:

Thank you for your assistance.

cfortunato :

You're welcome!

cfortunato and 4 other Bankruptcy Law Specialists are ready to help you