Los Angeles Small Business Reorganization Lawyers
When a business is struggling, one of the first steps it should take is to consult with a knowledgeable attorney about how to deal with their outstanding debts and limit liability. In many situations, a small business reorganization can dramatically help a company get back on its feet.
At Weintraub & Selth, located in Los Angeles, California, we are here to help businesses of all types and sizes that need help restructuring their debts. We are here to help you achieve debt relief and get your business back on its feet. Contact us today to learn more.
Small Business Reorganization Methods
When you come to us, we will carefully listen to your situation and help you devise a plan that will meet your objectives. In many instances, people want to save their business, and a small business reorganization can be achieved through a variety of different methods, including:
- Negotiating a debt workout plan with different creditors
- Lien stripping some of your commercial debt properties, if applicable
- Filing for Chapter 11 bankruptcy in order to facilitate a repayment schedule that would allow your business to continue operating while the bankruptcy petition is ongoing
We will evaluate your specific circumstances and present a plan that will help you achieve your goals. We will then work with you to implement this plan and our Los Angeles small business reorganization lawyers will be by your side every step of the way. Our creative team brings a high skill level and a commitment to helping local businesses flourish when it comes to working with clients. We are willing to work with businesses of any size and that are in any industry, such as retail, industrial, or real estate, as well as professional services such as medical practices or other law firms.
We know that all types of businesses are financially struggling, and although many people believe that Chapter 13 or Chapter 11 are the only tools for reorganizing debt, this is simply not the case. We can help you assess if you should stop payments on trade creditors, have stays granted, attempt to negotiate with lending institutions for business property loans or other lines of credit, or take other steps that can help your business continue to operate with minimal interruptions.
Our goal is to help you achieve your business restructuring needs whether it is by helping you renegotiate a lease or achieve a reduction in rent, review. We can also help you reject unprofitable contracts and leases completely. We will review new contracts and existing contracts to see if they can be modified in ways that will help your company and we will also try to extend out deadlines to creditors for outstanding debts. We will try to do this while helping you maintain good relationships with customers, vendors, creditors, and other businesses you have interactions with.
Chapter 11 Bankruptcy Reorganization
If Chapter 11 is your best option, we will help with every step of the bankruptcy process. If you do file for Chapter 11 bankruptcy this will immediately stops stop all lawsuits filed against you, as well as any collection actions or foreclosures foreclosure proceedings you are facing. Many people believe that filing for bankruptcy will cause more problems, but bankruptcy can actually relieve a lot of hardship.
For instance, while a lot of people think that creditors will not do business with someone who is engaged in the bankruptcy process, this is usually not true. Creditors may grant you a grace period or try to work out your debts so that you pay be back a modified amount, instead of the full amount. This way, they still get a portion of what they are owed and you can continue to do business with them.
Additionally, a business does not shut down because you have filed for Chapter 11 bankruptcy relief. Chapter 11 gives companies time to rewrite and renegotiate contracts so that a company can continue to exist. This includes bank debt and secured debt work-outs as well, which we will help you negotiate.
Contact Our Orange County Business Restructuring Lawyers
At Weintraub & Selth, we are here to help businesses that are struggling use this opportunity to reorganize and turn the business back into a profitable venture. Let us help you today. Contact us by email e-mail today or call our offices at 310-584-7702 or toll free at 866-572-2423.
