Commercial ventures, such as incorporated businesses or some unincorporated partnerships, are recognized as "persons" separate from the individuals who run them, and are eligible to seek debt help or consolidation instead of filing for bankruptcy. This process is called a Commercial or Corporate Proposal.
As a Licensed Insolvency Trustee, Derek L. Chase & Associates, Ltd. can help your business by investigating the financial affairs of the business and administering a corporate proposal, all while protecting the rights of your creditors and ensuring that your rights are not abused.
How does a Corporate Proposal work?
Consultation and evaluation
First, you’ll meet with a trustee for a free initial consultation to determine whether a proposal would fit your situation. A thorough detailed analysis of your financial situation is required to properly evaluate if a debt settlement proposal is suitable.
Preparing and presenting the Corporate Proposal
If we feel this service would work for your situation, then the proposal will be structured to find a balance that will work as well as possible for both your business and its creditors.
Once the debt settlement proposal has been completed, our office will contact the creditors with the proposal.
Contact us today to schedule a free initial consultation.