A bankruptcy filing can impact any business transaction, from simple to complex. Hinkle Law Firm LLC attorneys are well-versed in the ever-increasing complexity of the bankruptcy code. We represent creditors, committees of creditors and business debtors in all aspects of reorganization, liquidation and workout proceedings. We also structure and review contracts to protect our clients’ interests in the event the other party files for bankruptcy. We are committed to minimizing risk and maximizing recovery for our clients.
Minimizing Risk & Maximizing Recovery:
Whether you’re a farmer in Western Kansas, a factory worker in Wichita or a creditor attempting to collect a debt, Hinkle’s bankruptcy team has the knowledge and resources to assist all your needs. No other firm in Wichita has the breadth of knowledge and experience to offer its clients.
We understand that bankruptcy filing can be a tough decision, but choosing the right attorney can be tough, too. Our team has been providing trusted legal counsel to Kansas for more than 25 years with some members having more than 30 years of experience.
While our team has the ability to handle a variety of bankruptcy situations, below are some of the most common:
Chapter 7 Bankruptcy – What Most People Think of When They Hear Someone has Filed a Bankruptcy
Technically, it is a “liquidation proceeding” (as opposed to a “reorganization proceeding”) where a Chapter 7 trustee is appointed to liquidate a debtor’s non-exempt assets and take other actions designed to permit the Chapter 7 trustee to attempt to repay creditors. As a result of the generous exemptions available in Kansas, most people who file a Chapter 7 bankruptcy here will be able to keep all their property, while discharging their debt.
For more information on Chapter 7, click here.
Chapter 11 Bankruptcy – Finding a Solution to Complex Challenges
Chapter 11 is a reorganization proceeding. Chapter 11s can be filed by individuals or companies. Some cases can be complex, expensive, highly litigious and difficult to confirm. Huge corporations (for example General Motors) can and have used Chapter 11 to restructure and attempt to continue in business.
For more information on Chapter 11, click here.
Small Business Subchapter V Bankruptcy – A new option for small businesses seeking relief
The Small Business Reorganization Act (SBRA), commonly known as Subchapter V, refers to the new Subchapter V of Chapter 11 of the Bankruptcy Code. The SBRA was signed into law in 2019 and became effective February 19, 2020. It was then expanded by the CARES Act to allow small business debtors whose liquidated debts were less than $7.5 million to utilize this chapter and may provide a much-needed lifeline to small businesses struggling to survive.
Chapter 12 Bankruptcy – Debt Relief for Family Farmers
Chapter 12 bankruptcy is a reorganization proceeding limited to farmers. If a person or entity doesn’t meet the definition of “family farmer” or “family fisherman,” Chapter 12 is not available. There are also debt limits in Chapter 12. The amounts are adjusted periodically, but as of August 2016, the limit is $4,031,575.00.
For more information on Chapter 12, click here.
Chapter 13 Bankruptcy – Making a Plan to Get Out of Debt
Chapter 13 is reorganization proceeding. When the case is filed, a Chapter 13 plan is usually filed at the same time. The plan tells the court and creditors what your plan is to repay your creditors – to the extent they are paid at all.
Whether you are experiencing reluctant debtors, demanding creditors, or a bankruptcy trustee who claims you owe him or her money, we can assist you in all forms of debtor-creditor and bankruptcy disputes. We have the experience, skill, and resources to promptly assess your situation and assist you with your available options whether they involve counseling, negotiation, litigation or filing complex proceedings. Contact our team and let us discuss your options.
For more information on Chapter 13, click here.