Big Island Chapter 11 Bankruptcy Attorney
If you are a business owner or an individual struggling with commercial or business debt, you don’t have to struggle any longer. There are bankruptcy processes that can assist you in reorganizing your debt so that it is manageable. Generally if the amount of debt is high and the possibility of losing control over the liquidation of assets is contrasted with a good probability of ongoing stream of income that would allow for reorganization of debt that would allow repayment to creditors, then Chapter 11 can be an excellent remedy. A prerequisite to any successful filing ,and particularly Chapter 11, is adequate and complete financial records.
I am Barbara L. Franklin, and for more than 25 years I have focused my practice in the area of bankruptcy law and have participated in both small and large reorganizations. Located in Honoka`a, Hawaii, my law firm, Barbara L. Franklin, Esq., Attorney at Law serves individuals and businesses in exploring debt relief options.
About Chapter 11 Bankruptcy
Chapter 11 bankruptcy is designed primarily for commercial and business debt. The process for filing Chapter 11 bankruptcy is similar to other debt relief processes. You start with paperwork and an accounting of the liabilities and assets belonging to the debtor.
The process differs from other kinds of bankruptcy because it is a collaborative process individualized with the goal of keeping your business operating and can include an orderly liquidation. If your business is in need of debt relief, I can help you create an individualized plan to address your situation. You and I, along with my bankruptcy paralegal, will work with creditors to get your individualized plan for debt relief approved.
Chapter 12 Bankruptcy Relief
One of the most advantageous forms of debt relief is Chapter 12 bankruptcy. This type of bankruptcy is specifically geared only to farmers and fishers. It is unique because it has some features no other type of bankruptcy offers and is designed as a hybrid including some of the best features of Chapter 11 and Chapter 13. One feature allows these seasonal businesses to create a payment plan for debt with irregular payments. Another feature is that the borrower may be able to adjust the amount owed on collateral, such as a lien or mortgage against property used in the operations, and extend the payment plans for liens. Because of the specialized rules and threshold requirements, Chapter 12 bankruptcy is particularly difficult to file without the assistance of a dedicated and experienced attorney. My office is uniquely situated to assist the farmers and fishers of the Big Island. Currently, I am the only attorney in the State of Hawaii with chapter 12 plans successfully confirmed and performing.
Contact Big Island Chapter 11 and Chapter 12 Bankruptcy Lawyer Barbara L. Franklin, Esq., Attorney at Law
If you are a business owner who is in need of reorganizing your debt, I can help you find the best alternatives. I am available to discuss your situation in an initial consultation. Contact my office by e-mail or by calling 808-775-0530.