Northwest Arkansas Chapter 11 Bankruptcy Attorneys
Your Trusted Bankruptcy Attorneys in Northwest Arkansas
A fifth of all chapter 11 bankruptcy filings in Arkansas were non-business cases, proving that financial hardship can strike anyone at any time. Both individuals and business owners may file for bankruptcy for any number of reasons, ranging from life changes to skyrocketing interest fees they can no longer afford. When overwhelming debt takes over and it seems as though there are few options available, bankruptcy may provide you with the relief you need.
We believe that bankruptcy isn't a failure to succeed but rather an opportunity to start fresh. Our team at Martin Attorneys, P.A. has helped clients with various bankruptcy cases for over three decades, and we are prepared to do the same for you.
Call Martin Attorneys, PA at (479) 888-2039 or contact us online to learn more about Arkansas bankruptcy filings.
Understanding Chapter 11 Bankruptcy: A Path to Financial Recovery
There are several types of bankruptcy; which is right for you will depend on the unique circumstances concerning your debt, current income, and more. Chapter 11, commonly known as reorganization, gives you the opportunity to get debt relief through a payment plan. How does a Chapter 11 payment plan work?
Unlike Chapter 7, which is more or less liquidation of your assets, Chapter 11 bankruptcy helps you stay in business or keep your individual assets by creating a payment plan. Every plan is slightly different to reflect the unique needs of the person/entity filing.
Chapter 11 payment plans can include the following:
- Interest modification
- New due dates for your debt payments
- Calculations of your earnings and assets to determine whether you have enough income to pay your debt
The purpose of a payment plan is to reorganize your debt and make it easier to pay back over time.
Timeline for Chapter 11 Bankruptcy: What to Expect
Chapter 11 bankruptcy cases do not have a set time period for resolution. So, individuals or businesses that need more than the 3-5 years allotted in a Chapter 13 reorganization plan will have it if they instead file for Chapter 11. However, the often-lengthy process of filing for Chapter 11 invariably increases the cost of the proceedings.
The high cost and lengthy proceedings deter many people from filing for Chapter 11. On the other hand, the reorganization method for bankruptcy helps businesses and individuals make their debt more manageable. In many cases, the debtor can bounce back and have a healthy financial future. For larger and more intricate cases involving multiple parties, substantial debts, or contentious disputes, the bankruptcy process can be protracted. Having the right Northwest Arkansas Chapter 11 bankruptcy attorneys in your corner can help relieve the stress that sometimes comes with bankruptcy. Our team is well versed on the unique options your case may present, and will fight for your best possible outcome.
Ultimately, the outcome of your Chapter 11 bankruptcy case depends on two things: the court and your ability to collect and organize your case. While you can't control the court's pace, you can take steps to build a stronger case more efficiently. The best way to handle Arkansas bankruptcy filings is by consulting a qualified lawyer.
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"Professionalism, Quality, Responsiveness"
I went to Stephen Fisher at Martin Attorneys, PA with a difficult situation in which I was trying to make an ex-spouse rise to a level of either upholding his commitments of our divorce decree in regards to our children or move on and stop causing emotional damage etc.
Mr. Fisher was extremely compassionate and also very resourceful in helping us all come to the table to find a solution that, while still in the trial period, allows an environment for both parents to flourish and to be given every reason and opportunity to believe that all efforts have been made on both sides of the table to provide the best outcome for those most vulnerable and important – our kids.
I will definitely seek Mr. Fisher’s legal advice for matters in the future and refer friend’s family and strangers to him and his office. 5 Stars all the way! -
"Shea was the first attorney to listen to me thoroughly, take me seriously, show compassion, and speak honestly with me about my case."I am so thankful that attorneys like Shea Crosby exist! Admittedly, I didn't know what I needed or wanted prior to my initial consultation with Shea. I had met or spoke with several other lawyers before meeting her. Each and every time I left feeling defeated, insignificant, or like a dollar sign. Shea was the first attorney to listen to me thoroughly, take me seriously, show compassion, and speak honestly with me about my case. Her level of professionalism continued throughout the entirety of my case, which lasted just shy of ten months. Shea was always easily accessible through text, email, and phone calls. She fought for me, and my family, and she believed in me, even at times when others didn't. At the end of the day, Shea helped me negotiate an agreement which provided me and my family the relief and protections we NEEDED, and WANTED. I am so very grateful for her. It's not often one is sad when their legal proceedings have ended (when they've "won"). But that is exactly how I felt. Shea was my advisor, advocate, and by time it was over, I also considered her a friend. Her real world experience made her not only relatable, but often times my confidant. I highly recommend Shea Crosby to anyone needing a family law attorney.
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"They treated us as family and were open/forthcoming within every step of the process."They are wonderful! We adopted our granddaughter with the help of this firm. They treated us as family and were open/forthcoming within every step of the process. Thank you for your kindness and assistance. We will use you again in the future.
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"They handled the business at hand and kept me informed along the way. Highly highly recommended to anyone."This office was beyond friendly, extremely diligent, and most importantly kind. They did not nickel and dime me to death. They handled the business at hand and kept me informed along the way. Highly highly recommended to anyone they have so many areas of expertise.
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"I can't thank them enough for helping my family and I get through the tough times we went through."They were very helpful and extremely nice. I can't thank them enough for helping my family and I get through the tough times we went through. The staff was very welcoming and understanding, I really recommend their help if anyone is looking for good lawyers!
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"Very glad we went in to see them."They will definitely take good care of you. They are there for you not just the money. Very glad we went in to see them.
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"This was my first and only time to file for bankruptcy so I was completely unsure of the process and frankly, I was a little scared. When all was said and done, it was not so scary."They made a very unpleasant experience not so unpleasant. They kept me informed and weren't condescending if I didn't respond in a timely manner do to circumstances beyond my control, and it was over before I thought it would be. At age 56 this was my first and only time to file for bankruptcy so I was completely unsure of the process and frankly, I was a little scared. When all was said and done, it was not so scary.
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"He also did a fantastic job at coaching me through some of the possible situations I would face in the courtroom leaving me feeling confident."I had a case earlier last month. Stephen was wonderful! He was able to support me properly and efficiently. He also did a fantastic job at coaching me through some of the possible situations I would face in the courtroom leaving me feeling confident. Stephen obviously knows what he is doing. I highly recommend him to anyone in the future.
