Business Bankruptcy Attorneys in Van Nuys CA
Seasoned litigators and experienced negotiators, FLP Law Group LLP is a business law firm that also serves in Van Nuys CA, helping entrepreneurs and businesses confront their legal challenges head-on in a cost-effective way. The firm has received the highest possible rating of “AV” for both quality and integrity from the authoritative Martindale Hubbell listing of law firms and attorneys. Our Van Nuys Bankruptcy attorneys, each have over 30 years of experience, with special expertise in business and individual Chapter 11 and Chapter 7 bankruptcy cases and related litigation, breach of contract and fraud litigation, creditors’ rights and collection matters, commercial real estate transactions and litigation matters, and corporate governance and finance.
Why Bankruptcy May Be the Right Choice?
Deciding to file for bankruptcy in Van Nuys can be a life-changing decision. Our expert bankruptcy attorneys understand that it’s not just a legal process—it’s a step towards regaining financial control and peace of mind.
At our Van Nuys law office, we believe in empowering our clients with knowledge. Understanding the implications and benefits of bankruptcy is crucial. We offer comprehensive consultations to discuss your unique financial situation, providing insights on how bankruptcy could be a viable solution for you.
Here’s why considering bankruptcy could be your pathway to a more stable financial future:
- Debt Relief: Bankruptcy offers a legal solution to reduce or completely discharge overwhelming debts. This process can alleviate the stress of unmanageable financial obligations, allowing you to focus on rebuilding a stronger financial foundation.
- Asset Protection: Contrary to common misconceptions, bankruptcy can help protect your assets. With the right legal strategy, such as exemptions under Chapter 7 or a repayment plan in Chapter 13, you can safeguard your property and assets from creditors.
- Credit Recovery: While bankruptcy may initially impact your credit score, it also provides an opportunity to start afresh. Our experienced Van Nuys bankruptcy attorneys guide you through the process of rebuilding your credit post-bankruptcy, setting the stage for a more secure financial future.
- Stop Harassment from Creditors: Filing for bankruptcy triggers an automatic stay, which immediately stops most creditors from pursuing debt collection efforts, including harassing calls and letters. This provides a much-needed respite as you work towards resolving your financial issues.
- Strategic Financial Planning: Our approach goes beyond the bankruptcy filing. We assist in strategic financial planning, helping you establish sustainable practices to avoid future financial distress.
Corporate Restructuring Attorney Near You in Van Nuys
If you are facing financial difficulties and are contemplating bankruptcy as a possible remedy, FLP Law firm stands ready to provide legal assistance to you. Our firm is highly skilled in handling Chapter 7 and Chapter 11 business bankruptcy cases, and we take pride in delivering expert legal services to our clients. Our team of seasoned bankruptcy attorneys is equipped to guide you through the bankruptcy process and help you identify the most effective solution for your specific financial predicament.
Our objective is to provide our clients with the support they need to achieve a fresh financial start. We recognize that each individual’s circumstances are unique, and our bankruptcy lawyers are committed to working with you to craft a customized plan that meets your specific needs. You can trust that our attorneys will provide personalized and compassionate legal representation throughout the bankruptcy process, and we will remain committed to ensuring that your rights and interests are protected at all times.
With our extensive experience and dedication to providing exceptional legal services, FLP Law firm is the ideal choice for businesses seeking effective solutions to their debt problems in Van Nuys. Contact us today to schedule a free consultation with our business bankruptcy attorney and take the first step towards financial freedom.
Chapter 7
Chapter 11
Chapter 7 bankruptcy is a type of bankruptcy that allows you to discharge most of your unsecured debts, such as credit card debts, medical bills, and personal loans. This type of bankruptcy is often the best choice for those who have little to no assets and a low income.
Chapter 11 bankruptcy, on the other hand, is a type of bankruptcy that is typically used by businesses or individuals with high levels of debt. This type of bankruptcy allows you to restructure your debts and create a repayment plan that is more manageable and realistic.
PRACTICE AREAS
Our bankruptcy attorneys in Van Nuys represent debtors, creditors, trustees in bankruptcy, and third parties who have been sued by a debtor or bankruptcy trustee or simply have an interest in a bankruptcy case… Read More
We represent plaintiffs and defendants in state or federal court from defending debtors and prosecuting creditor rights on notes, invoices and guarantees (or whenever a creditor is owed … Read More
We advise and help small and mid-sized businesses on pre-incorporation planning, corporate formation, including recommending the best corporate entity to accomplish your objective… Read More
We represent small and mid-sized businesses and individuals in the acquisition and sale and financing of a variety of real estate assets, including retail centers, office… Read More
Insolvency and Loan Workouts:
We Represent debtors and creditors in individual or entity insolvency issues, including troubled businesses or real estate investments. We collaborate with out clients to stategize, negotiate and implement workouts, forbearance agreements, loan modifications and note or asset sales. Where appropriate our services include loan forbearance agreements, reorganization or the orderly liquidation of various types of assets.
Business Bankruptcies:
We represent Debtors in regular Chapter 11 cases or Small Business Reorganization Act (“SBRA”) subchapter V Chapter 11 cases. SBRA is available to those who have 50% or more in business debt and no more than $7,500,000 in liquidated debt and is generally much less expensive than a normal Chapter 11 case as there are no U.S. Trustee’s quarterly fees and no need to file a disclosure statement. In a SBRA case, a trustee is appointed to, among other things, facilitate a plan between the debtor and creditors which could be a reorganization or a liquidating plan. We also represent entities in Chapter 7 liquidations.
Our Chapter 11 debtor services include all aspects of representation from filing the petition and a disclosure statement and plan to obtaining plan confirmation. We also file any necessary applications and motions in the bankruptcy case such as applications to retain professionals for the estate, removing lawsuits to the bankruptcy court, disclosure statements, proposed plans, or any type of motion needed to advance the case toward plan confirmation.
Our creditor representation focuses on protecting a creditor’s lien rights and includes, but is not limited to objecting to: (i) motions to use cash collateral, (ii) critical vendor motions, (iii) Notices of Insider Compensation, (iv) motions to determine value of security, (v) disclosure statements, (vi) chapter 11 plans, and (vii) fee applications. We also defend creditors from any adversary actions for preferences, avoidable transfers, or to determine the validity, priority, and extent of a lien.
Individual Bankruptcies:
We represent debtors seeking to discharge some or all of their debts in Chapter 7. We also defend defendants in adversary proceedings for denial of discharge under 11 U.S.C. §§ 523(a) and 727(a) and any contested matter to be heard in the Bankruptcy Court such as motions for relief from stay or an objection to a claim of exemption.
We represent Debtors in regular Chapter 11 cases or Small Business Reorganization Act (“SBRA”) subchapter V Chapter 11 cases. SBRA is available to those who have 50% or more in business debt and no more than $7,500,000 in liquidated debt and is generally much less expensive than a normal Chapter 11 case as there are no U.S. Trustee’s quarterly fees and no need to file a disclosure statement. In a SBRA case, a trustee is appointed to, among other things, facilitate a plan between the debtor and creditors which could be a reorganization or a liquidating plan.
We represent creditors in all aspects of an individual Chapter 7 case such as filing a proof of claim, defending an objection to a proof of claim, motions for relief from stay, objections to a debtor’s claim of exemption, etc. We also defend creditors from lawsuits filed by Chapter 7 Trustees such as preference actions under 11 U.S.C. § 547 or voidable transfer actions under the Bankruptcy Code or state law.
We also represent Chapter 7 Trustees as counsel for the bankruptcy estate to handle all general matters such as motions to sell the property of the estate, objections to proofs of claim, objections to claims of exemptions, and turnover motions. We also represent Trustees as special counsel by filing adversary matters to recover particular assets for the estate as preferences or voidable transfers.
Bankruptcy Motions:
On behalf of debtors we prosecute or defend the seemingly limitless types of applications and motions that can be filed in a bankruptcy such as motions: (i) for relief from stay (ii) to dismiss or convert the case to a different chapter, (iii) to object to a claim of exemption, (iv) to sell property of the estate, (v) to have the court approve a compromise of a controversy, (vi) to avoid judgment liens, and (vii) to seek a final decree.
Likewise, on behalf of creditors we defend or prosecute Motions to: (i) use cash collateral, (ii) perform bankruptcy Rule 2004 examinations, (iii) seek a turnover orders, (iv) pay critical vendors, (v) use of cash collateral, (vi) subordinate a claim, (vii) to value security and (Viii) many, many others.
We also represent debtors, creditors, trustees, and third parties in special or unique bankruptcy proceedings such as Orders to Show Cause, sanction motions, evidentiary hearings, purchasing assets out of a bankruptcy case, and other unusual motions.
Bankruptcy Adversary Matters:
We defend debtors in adversary proceedings for the denial of a particular debt under (i) 11 U.S.C. § 523(a)(2)(A) (fraud), (ii) § 523(a)(4) (breach of fiduciary duty or embezzlement), (iii) § 523(a)6) (willful and malicious injury), and (iv) for denial of discharge under 11 U.S.C. § 727(a). Frequently, we can also remove a state court lawsuit to the bankruptcy court so that it is heard by the bankruptcy judge that is hearing the debtor’s case which could result in an advantage for the debtor.
We also defend creditor defendants from the debtor and trustee preference actions under 11 U.S.C. § 547(a), voidable transfer actions under 11 U.S.C. § 548, determination of secured status, and the determination of the validity, priority, and extent of liens, among other types of adversary proceedings.
Likewise, we prosecute adversary matters on behalf of debtors and trustees for preference actions under 11 U.S.C. § 547(a), voidable transfer actions under 11 U.S.C. § 548, determination of secured status, and the determination of the validity, priority, and extent of liens, and many other types of adversary proceedings.
Bankruptcy Appeals:
We represent debtors, creditors, trustees and third parties in bankruptcy appeals to the 9th Circuit Court of Appeals Bankruptcy Appellate Panel, or to the United States District Court for the Central District of California. We can prosecute or defend any appeal. Should either the appellant or appellee be unsatisfied with the outcome at the Bankruptcy Appellate Panel or the U.S. District Court, we can then represent the client in a further appeal to the 9th Circuit Court of Appeals.
State and Federal Court Litigation:
We are also active in state and federal court in defending debtors and prosecuting creditor rights on notes, invoices and guarantees (or whenever a creditor is owed money), and defending or enforcing Judgments. These actions include post-judgment enforcement and if necessary voidable transfer actions to recover debtor property improperly transferred to a third party. Frequently, we obtain writs of attachment so the client can have a pre-judgment lien against the debtor’s personal and real property.
We also defend debtors in the collection, alter ego and guarantee actions and represent creditors in the same. We further prosecute and defend limited liability and corporate shareholder disputes.
Corporate Law:
We advise and help small and mid-sized businesses on pre-incorporation planning, corporate formation, including recommending the best corporate entity to accomplish your objectives, share issuance, corporate compliance and securities law issues.
Transactional Law:
We represent small and mid-sized businesses and individuals in transactions such as lease agreements and contracts to help our clients create strong agreements to protect their interests.
Commercial Real Estate Law:
We represent small and mid-sized businesses and individuals in the acquisition and sale and financing of a variety of real estate assets, including retail centers, office buildings, multi-family developments and other commercial properties. Our firm is also adept at resolving liens and other title problems.
Why Hire Van Nuys Business Bankruptcy Lawyers?
FLP Law Group is a trusted bankruptcy law firm located in Los Angeles, California, with a specific focus on helping businesses in Van Nuys file for bankruptcy. Our team of experienced attorneys understands the challenges and complexities of business bankruptcy, and we are dedicated to helping our clients navigate the process with confidence.
At FLP Law Group, we understand that facing financial difficulties can be a stressful and overwhelming experience for any business owner. That’s why we’re here to help. Our team of experienced bankruptcy attorneys has a deep understanding of bankruptcy laws in Van Nuys California and can guide you through every step of the process, from filing for bankruptcy to debt restructuring and negotiation with creditors.
We understand that every business facing financial difficulties has unique circumstances and legal needs. Our goal is to provide personalized attention to our clients and develop strategies that can help them achieve a fresh start. We work closely with our clients to understand their specific situations and goals, and we strive to tailor our legal solutions to their unique needs to the extent possible within the framework of the applicable bankruptcy laws.
Get Legal Assistance From Small Business Bankruptcy Attorneys in Van Nuys CA by contacting us.
Van Nuys Business Bankruptcy FAQ's
Do I Need an Attorney?
While it is possible to file for bankruptcy on your own, having an attorney on your side can greatly benefit you. Bankruptcy can be a complex process, and an experienced attorney can help you navigate through it with ease.
Firstly, a lawyer can review your situation and advise you on which type of bankruptcy to file, or whether debt settlement is a better option. They can help you understand the pros and cons of each option and assist you in making an informed decision.
Furthermore, an attorney can assist you in filling out the necessary bankruptcy forms and paperwork, ensuring that everything is accurate and complete. Mistakes in the paperwork can lead to delays or even the dismissal of your bankruptcy case.
An attorney can also protect you from creditor harassment. Once you file for bankruptcy, creditors are legally required to stop all collection efforts, including phone calls and letters. If they continue to harass you, our attorneys can help you take legal action to stop them and enforce your rights under bankruptcy law.
What is the Difference Between Chapter 7 and Chapter 11?
Chapter 7 and Chapter 11 are both chapters of the United States Bankruptcy Code that provide different options for individuals and businesses facing financial difficulties. The main difference between these two chapters is the purpose they serve and the type of bankruptcy they entail.
Chapter 7 Bankruptcy, also known as liquidation bankruptcy, is designed for individuals or businesses that have little or no income and cannot afford to repay their debts. In this process, a trustee is appointed to liquidate the debtor’s non-exempt assets to repay creditors. Chapter 7 bankruptcy generally lasts 3-6 months and once the process is complete, most of the debtor’s debts are discharged, meaning they are no longer responsible for them.
Chapter 11 Bankruptcy, also known as reorganization bankruptcy, is designed for businesses that want to continue operating while restructuring their debt. This process allows businesses to develop a plan to repay their debts over time while continuing to operate their business. In this type of bankruptcy, the debtor retains control of their business and develops a plan to repay their debts over a period of time, typically several years.
In summary, Chapter 7 is intended for individuals or businesses with little or no income and who cannot afford to repay their debts, while Chapter 11 is intended for businesses who want to continue operating while reorganizing their debt.
Should I File for Bankruptcy?
The decision to file for bankruptcy is a serious one that should be carefully considered based on your individual circumstances. If you are struggling with overwhelming debt and unable to pay your bills, bankruptcy may be an option worth exploring.
Bankruptcy is a legal process that can help you eliminate or reduce your debt and get a fresh start financially. However, it is important to understand that bankruptcy will have a significant impact on your credit score and financial future. It may also require you to sell some of your assets to pay off creditors.
Before filing for bankruptcy, you should consider speaking with a credit counselor or a bankruptcy attorney. They can provide you with valuable information about your options, including bankruptcy alternatives such as debt consolidation or negotiation. They can also help you determine whether bankruptcy is the right choice for you and guide you through the process.
Ultimately, the decision to file for bankruptcy is a personal one that depends on your individual circumstances and goals. It is important to weigh the pros and cons carefully and seek expert advice before making any final decisions.
Why Should you Choose FLP LAW Group as your Bankruptcy Law Firm in Van Nuys?
FLP Law Group is a trusted Playa del Rey-based bankruptcy law firm that prioritizes the well-being and financial stability of its clients. Our team of experienced attorneys is dedicated to helping clients navigate the bankruptcy process and seek the best possible outcome for their cases. We offer several advantages to our clients, including extensive legal experience, dependability, effective communication, and access to resources. If you’re interested in working with FLP Law Group, we offer a case evaluation to discuss your options and priorities.
CASE RESULTS
United States District Court Affirms Fourth Fee Order After FLP Knocked Out $5 million in Claims
5/23/2022
FLP’s judgment creditor client Remares Global, LLC levied, pre-petition, on about $3,033,215.05 that debtor fraudulently transferred to his irrevocable trust. The trustee asserted Remares was entirely unsecured and that all was property of the bankruptcy estate.
FLP Law Group LLP Recovers 100% Plus Attorney Fees and Interest for Client and Successfully Defends Appeal.
3/18/2022
FLP attorney Alan Forsley obtained an $865,000 judgment, including attorney fees, for its plaintiff client. Forsley then defeated defendant’s motion to vacate the judgment and proceeded to collect 100% of the judgment plus interest and attorney’s fees.
FLP Obtains Individual Debtor Discharge in Contested Chapter 11 Case and removal of $1 million of Judgment Liens Against Her Home
2/14/2022
Debtor’s 2009 Chapter 11 case was closed after consummation of her confirmed plan by prior counsel. Notwithstanding the confirmed plan, two pre-petition law firms each obtained $500,000 judgments against Debtor and recorded liens against her multi-million home.