Businesses can enter bankruptcy and reorganize their debts on terms that ensure long-term success. Chapter 11 bankruptcy permits companies to:

• Protect assets

• Recover seized assets and payments made to creditors

• Repay debts on better terms with reduced interest rates over a longer time period

• Pay secured creditors only the value of their collateral, not the full amount of their debt

• Pay unsecured creditors an amount that the business can afford over time and nothing more

Bankruptcy is a powerful tool but isn’t necessary in all cases. Some businesses need the benefits of Chapter 11, but on a smaller scale. Hayes Law can assist businesses reorganize debt, negotiate with creditors, and preserve value without filing bankruptcy. Without the expense of bankruptcy, a successful workout can:

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• Reduce interest rates and extend loan terms

• Protect assets and business owners

• Improve cashflow

• Increase liquidity and borrowing capacity