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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Our situation is the bank is foreclosing on our commercial

Resolved Question:

Our situation is the bank is foreclosing on our commercial property owned by us as an LLC.
Our rental situation is turning around but we are running out of time. Our options are to sell another property to catch up our payments but we need time and will a bankruptcy allow us to do that. They are recommending a chapter 11 but say they don't get approved over half the time. We just need time though.

Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

Thank you for your question.

Filing a chapter 11 bankruptcy would typically grant you a few months to catch up on your payments regardless of whether your chapter 11 is approved
Ellen and other Bankruptcy Law Specialists are ready to help you