Prompt action at the first hint of trouble can vastly lessen both the cost and the chaos. Learning how chapter 11 works ahead of time costs a small fraction of the potential expense when action is put off for as little as two or three weeks. In addition, a disorganized or hastily organized chapter 11 filing defines the term "organized chaos."

Denial isn't only a problem for chapter 11 debtors. Creditors, too, fall into the trap. When creditors delay protecting their interests with customers in financial difficulties, everyone gets hurt. The reality may be harsh, but facing it and devising a plan and alternative solutions can help make the best of the situation.

In difficult credit situations, the best-prepared party benefits. Whether you are a debtor or a creditor, the wisest first step is to talk to a law firm that understands the process and focuses on the preparation and obtaining the results the client wants.
Due to our expertise and experience, our Bankruptcy and Restructuring practice can represent any party in a bankruptcy. We regularly achieve prompt results – a speedy resolution reduces costs and preserves value.