Sub Chapter V Bankruptcy Attorney In Los Angeles, California

Subchapter V bankruptcies allow your company to stagger your debt over three to five years. During this period, you must use your company’s disposable income to pay your creditors. It’s a win-win scenario because you’ll be able to spread your total debt payments over a longer period than you otherwise would have – and your creditors will recover more of their money than otherwise. You’ll retain control of your operations and assets, but you’ll have a third-party trustee to help you form an equitable plan with your creditors that ensures that all parties have the best chance at a favorable outcome. Additionally, you may also spread your administrative expenses throughout the payment period, giving you a better chance to pay the entire amount off over time. It’s a more streamlined process and usually costs much less than a regular Chapter 11 bankruptcy. If this arrangement sounds like a great chance at a fresh start, get in touch with one of our Subchapter V attorneys today.