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Chapter 11 is a bankruptcy option for debtor businesses

There are a lot of scams circulating online and in the news about organizations that can quickly help consumers and businesses completely eliminate their outstanding debts. Perhaps some Warrendale readers of this Pennsylvania bankruptcy and debt relief legal blog have fallen victim to these effective sales pitches and impressive promises. Unfortunately for those who have, all that often results from dealing with these entities is more financial hardship.

Unlike these organization's misleading promises, one method of actually taking control of one's business and organizational debts is to file for Chapter 11 bankruptcy. Chapter 11 bankruptcy, like Chapter 13 bankruptcy and Chapter 7 bankruptcy, is a legitimate, legal method of preparing a debt restructuring plan and working toward financial freedom. Its process, which offers filers protections from creditors and can stop the collection process, is overseen by the United States Bankruptcy Courts.

Not every debtor business may qualify for Chapter 11 bankruptcy and not every business that qualifies for Chapter 11 will necessarily benefit the same way after beginning the process. For this reason, business owners who are interested in exploring Chapter 11 bankruptcy and their other debt relief options are invited to contact the Thompson Law Group to discuss their entities' needs.

The Thompson Law Group manages the debt relief plans of both individual consumers and business organizations. The dedicated attorneys of the practice are available to help those with questions about bankruptcy at every step - from determining if filing is a good decision to helping prepare restructuring plans that enable debtors to manage their financial responsibilities. There is no downside to learning more about a legal and legitimate way of helping your business work toward financial freedom. The Thompson Law Group is accepting new clients who wish to learn how bankruptcy may serve them in the New Year.

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