Bankruptcy and Collections

Fear and frustration in the world of finance

Attorneys at the Tennessee law offices of Hardee, Martin & Donahoe, P.A. represent business clients on both sides of bankruptcy court. We facilitate Chapter 7 and Chapter 11 filing for companies that need legal counsel as they liquidate or reorganize their businesses. In addition, we represent creditors who wish to be properly paid for their goods and services.

Filing Chapter 7—Getting a fresh start

Starting over in commercial bankruptcy, all business activity stops. The company goes out of business. A court appoints a trustee to:

• Liquidate the company’s assets
• Use the proceeds to pay off company debts

In consumer bankruptcy, individual people who file for bankruptcy may keep exempt property like their homes and automobiles.

In either scenario, the business or individual is legally released from debts eligible to be included if all conditions are met for a Chapter 7. It is a fresh start. The business or individual is free from a majority of the debts incurred before the bankruptcy filing, with some exceptions. Creditors share the proceeds from asset liquidation and the court subtracts the value of exempt property from the total.

How we help you:

• Assess your eligibility for filing Chapter 7
• Evaluate your assets to see which you may be able to keep
• Determine whether you can be released from debt to creditors
• Recover property from your bankruptcy
• Negotiate agreements with creditors
• Properly file your bankruptcy petition and supporting documents
• Represent you at the creditors meeting and before the court

Filing Chapter 11—Getting your business reorganized

In a Chapter 11 business reorganization, a company proposes a plan to the court that allows the firm to pay off its debts over the course of three to five years. The purpose is to work with creditors to keep the company alive while paying creditors over time. Business activity continues. The company stays in business.

Chapter 11 helps business owners who can pay their way out of debt and financial difficulty. The court helps to create and enforce an orderly plan for debt repayment that would not be possible otherwise. Chapter 11 can prevent foreclosures on property, restructure certain tax obligations, and give a business the chance to get out of debt through reduced payments.

How we help you:

• Assess eligibility for filing Chapter 11
• Advise the optimal way to restructure debt
• Negotiate agreements with creditors
• Properly file your bankruptcy petition and supporting documents
• Represent you at the creditors meeting and before the court
• Help finalize payment plan

Relief for creditors

Hardee, Martin & Donahoe, P.A. represents creditors during bankruptcy proceedings to ensure they receive an appropriate return for the debts incurred. We:

• Protect a creditor’s interests and collateral
• Evaluate a debtor’s plan to get the highest return possible (including an evaluation of purported disposable income)
• Represent client interests at the creditors meeting
• Negotiate for the best possible return on the dollar for debts owned

Take your case to trial with confidence

Hardee, Martin & Donahoe, P.A. wants to put their experience and passion to work for you. Our diverse team of proven legal professionals looks forward to taking your legal problems to the limit for just solutions. Call 731-868-4241 to engage in a free consultation on any legal matter. Or contact us online.