Representing Creditors and Debtors in Chapter 11 and Chapter 13 Filings
At the Karfeld Law Firm, P.C., in St. Louis, our attorneys have over three decades of experience representing both debtors and creditors in bankruptcy proceedings. Attorney Ed Karfeld served as a Chapter 13 bankruptcy trustee for nine years and has a comprehensive understanding of the law and the process governing debt reorganizations under Chapter 11 and Chapter 13.
Contact our office to set up a confidential consultation to discuss whether a personal or business reorganization is the best strategy for meeting your debt relief needs.
Chapter 11 and 13: Debt Reorganization in Bankruptcy
If your income disqualifies you from Chapter 7 bankruptcy, you still have options. Under Chapter 13 (individuals) or Chapter 11 (businesses) of the Bankruptcy Code, debt is paid back through a structured repayment plan.
Under both forms of reorganization, the debtor agrees to repay some or all of the debt or over a period of time. For a Chapter 13, that time period is up to 5 years. For a Chapter 11, the time period is negotiated by the parties. In both situations, the debtor submits a proposal for repayment that must be accepted by the creditors and approved by the bankruptcy court.
Debtors in Reorganizations
If you are behind on payments for your home, car or other significant assets, and are facing foreclosure or repossession, reorganization may be the right option for you. When you hire us to represent you, all collection activity will stop, including garnishments, repossessions, creditor calls and letters, and sheriff's levies of assets, as soon as your case is filed.
We handle all matters related to the Chapter 11 or Chapter 13 filing for debtors, from the preparation and filing of a petition for protection under the bankruptcy laws to the review of proposed repayment plans. We negotiate workouts with creditors, which can include the return of assets as well as the sale of a business. If you are a business owner, Chapter 13 can help you maximize the value of your assets while minimizing your personal exposure to liability.
Creditors in Reorganizations
For creditors, we take care of all issues that arise, including
- Helping you prepare and file a proof of claim
- Communicating on your behalf with the Chapter 11 or Chapter 13 trustee
- Defending your interests in a lawsuit to recover a payment as a preferential transfer
- Reviewing any proposed reorganization plan and acting as your advocate to contest unacceptable provisions
- Objecting to debt discharge
- Representing you in all litigation related to a Chapter 11 or Chapter 13 filing
In addition, our depth of experience in bankruptcy allows us to provide knowledgeable counsel on the effect of additional factors, such as a debtor who receives compensation from other sources, on the amount of recovery to which you are entitled. We will help identify all available means that can be accessed to repay the debt.
For a confidential consultation with an experienced Chapter 11 and Chapter 13 bankruptcy attorney, contact us or call 314-732-0748. Our office is open Monday through Friday, from 9 until 5, with evenings and weekends by appointment. We are located in downtown St. Louis, just four blocks from the Gateway Arch.
We are a debt relief agency. We help individuals, businesses and government entities file for bankruptcy relief under the Bankruptcy code.
Count on Our Experience to Work for You
