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While filing for bankruptcy is never a first option for solving temporary financial challenges, FGD Law understands that circumstances may sometimes dictate that the most advantageous alternative for restructuring debt is the one that is most readily at your disposal.

Our team has a successful track record in guiding both entrepreneurs and businesses as well as individuals navigate a path to resolution of financial issues that enable them to take responsibility in a manner that enables moving forward. Sometimes a bankruptcy filing is the best strategy for producing a reorganization that ensures forward movement for all parties involved.

When considering a bankruptcy filing, you need to consider the types of debt that are causing the most stress, review your complete asset picture, understand how your debts rose to their current levels, whether they are secured, and the pending actions, if any, that are threatening loss of those material assets (i.e., a foreclosure or repossession of property). You may also want to assess your situation for determining whether a filing will resort in an attachment of your current wages or bank account, and the additional stress that may impose on current income streams.

As an official debt relief agency, FGD Law can provide counsel on your options as well as a fully integrated restructuring strategy to get you and/or your business back on track:

Chapter 7

A trustee is appointed assume management over your property. Any property of value will be sold or liquidated to satisfy the claims of any creditors. You may be able to retain some personal possessions and possibly real estate holdings but that is determined by the laws of the state in which you reside in addition to any applicable federal laws.

Chapter 13

In this instance, you may usually keep your property, but must earn wages or generate some other source of regular income. This filing requires you to pay a portion of any income to your creditors in a payment repayment plan that fits with a budget that is all approved by the court. A trustee is appointed and collects the payments from you to pay your creditors, and ensure that all of the terms of the repayment agreement are adhered to.

Chapter 12

Similar to the stipulations of in a Chapter 13 filing, this option is designed for family farmers and family fishermen.

Chapter 11

This type of filing is the one most commonly utilized by businesses. While you may continue to operate your business, you must devise a plan to resolve outstanding debt to your creditors that is approved by the courts. This filing does not require the appointment of a trustee, unless the judge determines that one is necessary. If one is appointed, that trustee will then assume active control of both your business and your property.

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Regardless of where you may be along the developmental journey, either at the early stage or at a more mature juncture as a smart growth company, the effective management of all of your assets is critical to sustaining the competitive viability of your enterprise.

Indeed, smart asset strategies can play a pivotal role in your ability to leverage various options as you scale, grow, compete and prepare for exit.

Since real estate assets are tangible, unlike most traditional investments, they require highly specialized skill sets, broad platform capabilities, experienced professionals and the dedicated resources to focus on maximizing a return on investment.

A successful strategy will involve capturing the full property value and investment returns by employing any number of options – from reducing expenditures and securing the most consistent, highest sources of revenue to mitigating any potential liability and risk depending on the nature of the asset.

FGD Law has extensive experience guiding clients – individuals and businesses – in the array of legal matters pertaining to the effective management of their real estate assets. We can guide you through the complex legal and tax rules governing investment property as well as provide negotiation facilitation, analysis of leasing options and other appropriate integration strategies to strengthen your overall portfolio.

Our team offers a range of legal services particular to real estate and construction matters, including:

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