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Andrea, Esq.
Andrea, Esq., Attorney
Category: Legal
Satisfied Customers: 12554
Experience:  25 yrs. experience in family law, estates, real estate, business law, criminal defense, immigration, and employment law.
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business foreclosure

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I wish to keep my business open but ive gotten behind on loan payment. i file chapter 11 in 2009. Can i file again to save my business from foreclosure or reopen my 2009 case? its set for this June!!


what can i do?

Hello and Welcome to JustAnswer, My name is XXXXX XXXXX my goal is to provide you with Excellent Service, I a sorry to hear about your difficult financial situation,

 

 

1. Is your business a corporation ?

 

2. In 2009, did you file personal bankruptcy or was it for the business ?

 

3. What was the outcome of the 2009 bankruptcy, were your debts discharged in bankruptcy ?

 

I might have some additional questions depending on the Answers to the above, if you do not mind,

 

Thank you,

 

 

Customer: replied 3 years ago.
1. Yes it's an LLC
2. We file for business reorganization chapter 11
3. The outcome was dismissed and we got a payment plan for our debt
It was approved for reorganization
But now I don't know what to do

Thank you for your additional information,

 

There is no restriction as to the number of times, or restrictions on any particular time frame for filing a Chapter 11 because it keeps the business alive and its a reorganization, rather than a liquidation. Therefore, you should file your Petition under Chapter 11 as soon as possible so that you have the benefit of the Automatic Stay of all other proceedings, including foreclosure of the business,

 

 

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Thank you for allowing me the opportunity to be of assistance,

 

 

ANDREA

 

Andrea, Esq. and 3 other Legal Specialists are ready to help you

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