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Our Bankruptcy Attorney in Tampa explains Chapter 11 Bankruptcy.

Our bankruptcy attorney in Tampa can help you file for bankruptcy relief under U.S. Code, Title 11, with the ultimate
goal of saving your possessions, saving your home, and rebuilding your good credit.  U.S. Code, Title 11, covers
several different types, or "chapters," of bankruptcy.  Our Tampa, Florida bankruptcy attorneys commonly work with
three of those bankruptcy chapters, Chapter 11 is as follows:
Experienced and Affordable, Personal Service.

Chapter 11 Bankruptcy Tampa, St. Pete, Clearwater

Chapter 11 Bankruptcy is a complicated proceeding generally used
by businesses or debtors with substantial assets.  In a Chapter 11
bankruptcy, creditors are temporarily halted from taking any action
against the debtor while the debtor proposes a method of paying or
settling the debts.  The creditors vote on the plan and it must be
approved by a certain amount of the creditors.  Chapter 11
bankruptcy is designed to preserve a business which would
otherwise be lost in liquidation.

After filing for Chapter 11 bankruptcy, a business can hold
collection actions and levies at bay while developing a plan of
reorganization.  This gives the business time to
get caught up on
bills and time to negotiate with creditors.  Chapter 11 bankruptcy
can also be used to liquidate a small business in a timely manner.
Located in central Tampa, the bankruptcy lawyers at Attorneys and Debt Counselors will be glad to meet with you
about whether bankruptcy would be advantageous for you, and which chapter of bankruptcy would meet your
situation.  Please call
(813) 876-3328 to schedule a free consultation with a Tampa bankruptcy attorney from
Attorneys and Debt Counselors.
Chapter 11 Bankruptcy and the IRS

A Chapter 11 Bankruptcy protection also provides protection from IRS collection procedures for a period of time.  Bankruptcy Code
Section 362 grants debtors automatic relief from collection activity and applies to the Internal Revenue Service as well.  

This allows debtors to pay priority and non-priority taxes out over time, and may allow a business to continue to operate that has
previously been seized by the IRS.   
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Bankruptcy Attorney Tampa, St. Pete, Clearwater