A local bankruptcy attorney can help you understand the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy, so that you can make an educated decision about the best next step for you. Fill out the form to the right for a free bankruptcy case evaluation by a local attorney.

Not sure whether bankruptcy is the right option for you? A Local Bankruptcy Attorney can answer your questions and explain the bankruptcy process to you. Schedule your Free, no-obligation consultation call for your free phone consultation from A Local Bankruptcy Attorney right now By filling the form to the right,

or Call CuraDebt Inc. Toll Free 24 hr. Hot Line

Chapter 11 bankruptcy is usually thought of as a business bankruptcy. If you own investment properties, you may qualify for Chapter 11 bankruptcy.

In Chapter 11 bankruptcy you can lower the principal balance of your investment properties down to current value and pay them back over 30 years. In a Chapter 13

you need to have the income to pay back your loans in 3 to 5 years. A Chapter 11 bankruptcy allows you to pay these loans back over 30 years, and sometimes even

40 years if you negotiate with the bank.

In a Chapter 11 bankruptcy you will have a repayment plan and you will make your payments directly to your creditors. The payments will be negotiated down to the

current value.

After your mortgages are negotiated in a Chapter 11 bankruptcy, your payments will hopefully be lower than what you recieve in rent on your investment property.

This will mean you have a positive cash flow. In most cases you can sell your investment property anytime you wish after the Chapter 11 bankruptcy. For example,

if your loan is lowered to $100,000 and it then increases in value to $150,000, you can sell the property, pay off your mortgage, and have a profit of $50,000.

Chapter 11 bankruptcy is also available for businesses. In Chapter 11, you can reorganize your business debts and have a positive cash flow. This will keep you

in business and will eliminate your bad debt.

A Chapter 11 bankruptcy won’t affect your personal credit score. Unlike the other chapters of bankruptcy, Chapter 11 will appear on your credit for a breif

period of time. Once your plan is accepted by the court, the bankruptcy will be removed from your credit. All of your creditors will start reporting you as

active and current. This will improve your credit score and give you a clean start.

If you have investment properties or a business and you want more information about Chapter 11 bankruptcy, please contact Vegas Law Site

at:http://vegaslawsite.com

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Washington business and real estate lawyer Jeff Helsdon discusses whether or not a Chapter 11 bankruptcy is the right choice for you.

When comparing different bankruptcy options, you may have a lot of questions about which plan would work better for you. A Chapter 11 bankruptcy plan is available for both individuals and business, small and large. The advantage of a Chapter 11 bankruptcy is that you are able to restructure your debt and still remain in business. This plan allows you to work day to day, but rebuild your credit and debt relationship while you do so.

If you have knowledge in the bankruptcy field, you may want to file for bankruptcy yourself. And that is an option, but you should know there are a lot of details and decisions that must be made to not only file but continue with the plan. As an individual this is possible. However, a business may not file a Chapter 11 bankruptcy by them, this is against the law. A business must have an attorney guide them through this very detailed process. Watch the video now to learn more.

For more information about business law and my firm, visit our educational website at http://www.tacomalawfirm.com, where you can view more information on all types of bankruptcy plans. If you have legal questions, I want you to call me at (866) 309-1031. I welcome your call.

Oldfield & Helsdon, PLLC
1401 Regents Blvd., Suite 102
Fircrest, WA 98466
(866) 309-1031

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