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Real Estate Leases and Chapter 11 Bankruptcy

Real Estate Leases and Chapter 11 Bankruptcy

If your business is consumed with debt, you likely have a lot of concerns. You may wonder how you will secure the profit margins to stay afloat. Your ability to invest in new business opportunities or even secure payment for your real estate lease may be a top concern.

At Redman Ludwig, P.C., we have more than 60 years of collective experience protecting businesses' financial interests. Tough economic times and stiff competition can ultimately affect businesses' ability to meet their daily and long-term financial needs. We will apply our years of experience and legal skills to help you gain control of your financial situation without putting your business at risk.

Businesses Have Options When Dealing With Real Estate Leases in Indiana

If your business is starting to fall behind on its bills, the best investment you can make is to work with a highly skilled commercial debt relief lawyer before the situation spirals out of control. At Redman Ludwig, P.C., we have extensive experience working with businesses in situations similar to yours. We are committed to addressing your unique situation so you can understand the options available to you.

Businesses that are current on their lease and want to remain there may choose to continue paying the lease. If your business has fallen behind on the lease, you can start making regular payments and make up the late payments over 18 months. This may not be the most effective option if the terms of the lease are not in your benefit. In this case, filing for Chapter 11 bankruptcy may be the most effective solution for your business.

Known as business reorganization, Chapter 11 bankruptcy is designed to help business leaders remain in control of their operation while reorganizing their debts into a realistic payment plan. We can help you reject the lease through filing a motion with the court that says the lease is burdensome to the estate. The damages will then be treated as an unsecured claim as part of a Chapter 11 bankruptcy. Your business will pay whatever it can as part of the reorganization plan, based on approval from creditors. This is also how businesses can handle executory contracts.

We can't help you change the terms of the lease. You either maintain the lease as it is or reject it through filing for business bankruptcy. This is a highly complicated area of the law. We offer experienced legal counsel to address your financial concerns in the most effective way possible.

Contact Our Highly Skilled Bloomington Bankruptcy Attorneys

If your business is overwhelmed with debt, contact our law firm in Indianapolis to schedule a free phone consultation. Every case is fact-specific. We will evaluate your business's unique circumstances to determine the most effective way to address your debt concerns.

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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.