In 2021, many main companies filed for chapter, corresponding to J. Crew, Golds Fitness center, JC Penny, Pier 1 Imports, and extra. Small corporations weren’t exempt, and lots of frightened that the post-pandemic pattern would enhance chapter filings. Are you combating debt associated to your small business and serious about submitting for chapter in Philadelphia?
A chapter legal professional can assist you navigate the authorized world of debt and collectors, serving to you discover the perfect brief and long-term resolution on your earnings. Fortunately, we’ve put collectively a brief information on the best way to navigate COVID-19 bankruptcies and the place to search out the perfect chapter legal professional, so maintain studying for extra info!
What Is a Chapter Lawyer?
A chapter lawyer helps stability collectors who want cost and customers who need assistance. They will symbolize particular person shoppers or companies who want skilled steering on their money owed.
Whereas companies have elevated throughout the nation and Philadelphia, some aid packages haven’t prevented chapter and debt from creeping up. Do you have to file for chapter when your money owed change into greater than you possibly can handle?
The reply won’t be so simple as you assume, and discovering authorized assist can assist navigate new laws that has come out because the COVID-19 pandemic, corresponding to:
- Small Enterprise Reorganization Act
- Honoring American Veterans in Excessive Want Act
- Household Farmer Reduction Act
- CARES Act
- Paycheck Safety Program
Earlier than you resolve, Sadek and Cooper Legislation Workplaces work instantly with companies in Philadelphia with chapter session. The session is free, and you’ll find reasonably priced cost plans that suit your finances.
A New Period of Chapter
Why is chapter rising? A number of elements stem from the COVID-19 pandemic, which has rippling results right this moment. Among the causes of elevated debt and danger of chapter embody:
- Small companies and excessive debt
- Backlogged courts
- Diminished revenues
- Employee shortages
- Provide chain points
Flexibility helps predominantly family-owned and smaller companies. Sooner or later, coverage procedures may change and accommodate extra out-of-court debt restructuring and reduce debtor-in-possession financing.
How To Discover Assist for Authorized Points
Authorized points with debt are onerous to navigate by your self. A chapter lawyer in Philadelphia can assist you with native legal guidelines, such because the distinction between Chapter 7 and Chapter 13 chapter filings. Authorized illustration has change into extra essential than ever with the Chapter Abuse Prevention and Client Safety Act, which muddled legal guidelines and made the method extra sophisticated.
Sadek and Cooper Legislation Workplaces may also provide help to with:
- Negotiating with collectors
- Put together for conferences and court docket appearances
- Submitting motions
- Submitting different technical and authorized paperwork
- Focus on Pennsylvania chapter exemptions
- Advocate for you
With 4 workplaces within the Philadelphia area, you possibly can relaxation simple figuring out you’ve shut entry to among the prime chapter attorneys within the state that may work tirelessly to convey your case to a mutually agreed decision.
Discover Authorized Assist Right this moment
Are you coping with piling debt from the COVID-19 pandemic? The very last thing you wish to even take into consideration is representing your self in court docket or submitting for chapter with out authorized assist. A chapter legal professional can assist clean the trail and make sure you take the best steps for your self, your small business, and the longer term.
At Sadek and Cooper Legislation Workplaces, we provide free consultations with extremely certified chapter attorneys, as a way to resolve your case shortly. Don’t wait any longer. Contact us right this moment and begin your preliminary session!
