* A press release explaining what is going on at your company. Although the court-of-law protects your business from people you owe, the target of corporate Chapter 11 bankruptcy is keep your enterprise's doors open while you pay off your liability. And most importantly, you'll have the personal satisfaction of knowing that you saved your business yourself. In additions the bankruptcy filing which is generally at least 20 pages, you'll besides want to supply.

* A 25% price cut that gets contract price to market rate. The average closely-held company only survives 20 to 25 years. Produce your sales forecast and sales strategy. In addition, your 5-year payment plan shows that you have $1000 a month extra to pay unsecured creditors (the bank credit card businesses.) Under Chapter 13, you would survive to pay your house advance and car lease as normal during the 5 years. Simply stated, you legal counsellor has much more work to do. Some of these topics I briefly covered in Lesson 15 if you were looking for turnaround money. As a result, you should always ask about recovery rates and ask them to prove their claims. Have an attorney-at-law file the paperwork to dissolve your enterprise. The only way to live on is when you have money in the financial institution. Since it's complicated to petition for Chapter xi, bankruptcy attorneys-at-law familiar with these laws should be retained. Even if they reject the plan, the court-of-law can still put the plan in place if it feels it is fair to all involved. Most corporations have unused bank lines of advance.