Oklahoma’s Oldest Law Firm Established in 1893
As a small-business owner, we know how hard you work every day to keep your company running smoothly. If you are struggling to pay off your debts, however, you may need to consider filing for bankruptcy to protect yourself from creditors.
At Mitchell DeClerck in Enid, Oklahoma, our lawyers can help you file for bankruptcy and guide you through a liquidation (Chapter 7) or reorganization (Chapter 11) plan that will help you protect your future.
While many businesses that are in bad financial shape may simply file for Chapter 7, liquidate all of their assets and close, there is another option for business owners who want another shot at solvency.
Under a Chapter 11 bankruptcy filing, your business will keep operating under the supervision of the bankruptcy court while you take the time to restructure your debts and reorganize your business to run more efficiently.
A Chapter 11 filing may require you to renegotiate or break contracts with creditors and employees' unions, close locations and lay off workers. However, most of these decisions cannot be made without the approval of the court, and your creditors may challenge any of them.
Our attorneys can assist you throughout the Chapter 11 reorganization process and negotiate with your creditors on your behalf. With decades of combined experience in bankruptcy law, our lawyers know how to craft a plan that will satisfy the court and your creditors, and help your business emerge from bankruptcy on a financially sustainable path.
Contact Mitchell DeClerck for assistance if you think your business is drowning in debt. We can help you decide which chapter is a good fit or if there are other debt relief measures you should take first. Call 580-366-4279 to schedule your free consultation.
This is not intended as legal advice because bankruptcy is complicated and depends on the specific circumstances unique to the Debtor. If you are considering a bankruptcy, call us toll free at (877) 886-5955 for a free consultation so we can provide legal advice tailored to your specific unique situation. There is no obligation and the call is confidential.