Pennsylvania Chapter 11 Bankruptcy Lawyers

Small businesses have been hit just as hard by the recent economic recession as large national and multinational corporations have. Unfortunately, few small business owners have the financial resources needed to withstand even a relatively short-term crisis. Fewer still have access to dependable, high quality legal advice and services.

Attorneys at Avallone Law Associates are committed to helping small business owners obtain meaningful debt relief and the breathing room they need to reorganize their businesses by filing for Chapter 11 bankruptcy protection. Serving the greater Philadelphia metropolitan area and eastern Pennsylvania since 1982 — we can provide the knowledgeable guidance and experienced legal help you need as well.

Free consultations: In the Philadelphia area, call 215-253-3855; in other parts of Pennsylvania, dial 1-877-223-0579 toll free.

Chapter 11 Basics

Filing a Chapter 11 petition triggers an immediate, automatic stay against all judgments, repossession efforts and other collection activities. It is the same type of stay triggered in consumer bankruptcies under Chapters 7 and 13 and one of the most important benefits the process affords.

When a small business owner files a Chapter 11 petition, they also file a reorganization plan that classifies the business's creditors to be repaid in order of priority. If the bankruptcy court confirms that plan, he or she becomes what is known as a "debtor-in-possession." Essentially, the business owner retains possession of the business's assets while adhering to the repayment terms of the plan. There are reporting and certain other requirements as well but these should be discussed in more detail with a lawyer.

Although Chapter 11 can be used by individuals who have so much debt that they cannot qualify for relief under Chapter 13 — attorneys at our firm focus on helping businesses reorganize debts through Chapter 11.

Professional Debt Relief Help for Small Businesses

At Avallone Law Associates, we can help you weigh the debt relief options available for your small business and choose the course of action that will best meet your individual needs. For answers to other questions about business reorganization under Chapter 11 or how our firm can be of assistance, contact our law firm for a free initial consultation.

Evening and Weekend Appointments • Payment Plans Available