Chapter 11 Bankruptcy

The Clear Lake and Galveston bankruptcy lawyers of Gipson and Norman are dedicated to representing individuals and businesses facing financial hardships. If you or your business is struggling to pay off overwhelming debts, it is in your best interest to consult an attorney. Skilled lawyers are familiar with bankruptcy laws and will be able to guide you through the often complex legal proceedings. Chapter 11 bankruptcy is most often used by businesses facing financial troubles. Chapter 11 allows individuals and businesses to create a reorganization plan to repay debt in a reasonable manner.

One of the largest advantages of chapter 11 is that it allows business to retain their assets and continue to operate the business under the supervision of the court. In chapter 11, you will be required to have your repayment plan approved by a majority of your creditors in order to agree upon the repayment terms. Although chapter 11 bankruptcy is often expensive to the debtor, it allows for greater flexibility in repayment plans and allows businesses to continue to operate throughout the repayment period. Even if the repayment plan is not approved by your creditors, there is a chance to have the plan approved by meeting certain requirements and tests. Restrictions and requirements may vary by state. Consult an attorney to discuss your legal options and discover if chapter 11 is right for you or your business. Please visit our downloads page for detailed information about Chapter 11.

The law office of Gipson and Norman is dedicated to serving individuals and businesses in the Clear Lake and Galveston area who are struggling to pay off debts. The Clear Lake and Galveston bankruptcy lawyers of Gipson and Norman are committed to protecting your rights during complex bankruptcy proceedings and are proud to offer 57 years of shared experience to our clients. Your initial consultation with the Clear Lake and Galveston bankruptcy attorneys of Gipson and Norman is completely free of charge and is a chance to have your case evaluated by a talented board certified bankruptcy attorney. For more information and to schedule your free initial consultation, contact the Clear Lake office at 281-332-4800 or Galveston office at 409-765-6000 or toll free at 1-800-291-0898.