Chapter 11 Bankruptcy in New Hampshire

For businesses in debt

DeBruyckere Roth & Associates, PLLC helps businesses file for Chapter 11 in New Hampshire. If your company is amassing debt at a rapid rate, or if it has been in the red for a long time, then filing a Chapter 11 bankruptcy could be your best option. Having dealt with business bankruptcies in the past, our firm is keenly aware of the time and effort—and money—that people invest in their businesses. For many business owners, success or failure is a matter of personal pride.

While our firm does not guarantee that filing Chapter 11 bankruptcy in New Hampshire will lead you to profits, it may very well put you in a position to start focusing on your business plan, rather than the creditors.

Remaining in control with Chapter 11

Chapter 11 bankruptcy is typically filed by businesses which have accumulated excessive debt, but which do not want to liquidate their assets in a Chapter 7 bankruptcy. Chapter 11 gives debtors time to pay back creditors—following a plan approved by a creditor’s committee— while remaining open for business. The business owner becomes a debtor in possession, which means that you maintain control over the company’s property during the reorganization process, which can take between three to five years.

Filing for Chapter 11

Filing for Chapter 11 is perhaps more complex than Chapter 7 bankruptcy because you have to create a detailed debt reorganization plan based on a disclosure statement that lists all of your company’s assets. The list of assets, their values, and other financial information about your company are usually revealed during the “341 meeting,” which brings together the debtor in possession and the creditors in a meeting headed by the U.S. Trustee. The purpose of the 341 meeting is for the creditors to assess the viability of the repayment and reorganization plan before voting to accept it. For help formulating a reorganization plan, contact our firm for business bankruptcy in New Hampshire.

Eligibility requirements

If you are filing for Chapter 11 in New Hampshire, there are certain eligibility requirements:

• You must not have a bankruptcy petition that was dismissed in the prior 180 days
• You must have received credit counseling from a provider approved by the U.S. Trustee Program in the previous 180 days
• You must pay a $1,000 filing fee and $39 administrative fee

DeBruyckere Roth & Associates, PLLC can help you decide if Chapter 11 is the right option for your business. In some cases, filing for Chapter 7 bankruptcy and liquidating your business’s assets could be the more suitable approach for addressing debt problems.

Call 480-295-3470 to file business bankruptcy in New Hampshire.