I have had great success confirming my Chapter 11 cases throughout Southern California. If you have a business or properties where the monthly overhead is too high but you want to keep that business or properties, Chapter 11 may be perfect for you. This is a reorganization bankruptcy where we work to reduce your secured loan payments, reduce expensive lease payments, and severely reduce your general unsecured debts– so that your monthly overhead now becomes affordable and you are able to retain your assets. You can also have 2nd loans secured on your personal residence stripped right off the property where there is no equity to support that loan…In other words, our goal in Chapter 11 is to create a new affordable budget to pay for your assets which are formally approved by the Court.
(1) Our client’s leased two printing presses for the price of $3.1 million with high monthly payments. In the Chapter 11, we reduced the lease price from $3.1 million to $1.2 million ($1.9 million reduction) and severely reduced the monthly payments so it could retain the presses.
(2) Our client had a 2nd loan secured on her home of $400,000. in San Clemente, CA. In the Chapter 11, we stripped this 2nd loan off the property and the client was allowed to pay off the balance of $400,000. with just $20,000. ($380,000. reduction) which was paid off after 5 years.
(3) Our client reduced the loans secured on two La Jolla townhouses by over $200,000. each ($400,000. total reduction) and dramatically reduced the monthly payments to the lender. My client is keeping both townhouses.
(4) We filed a Chapter 11 to stop the scheduled foreclosure of an office building in West Covina, CA. In the case,
I was able to re-negotiate the secured debt from $1,525,000. to $1,170,000. ($355,000. reduction), plus a write off of approximately $200,000. in past due mortgage payments (total $555,000. reduction). My clients are keeping the property for their business headquarters.
The above is a small sampling of the great success that I have had with my Chapter 11 cases. I have successfully confirmed Chapter 11 cases in the Los Angeles, Orange County, and San Diego Bankruptcy Courts. I have also been contacted by attorneys in other areas of California to consult with them to help them save their Chapter 11 cases when they don’t understand how to confirm these cases. Call me directly for a free 1/2 hour consultation at 714-319-3446.