Since the decline in the oil field over the last several months those service companies that are highly leveraged will experience financial problems. It is very important that you discuss the issues with a knowledgeable bankruptcy attorney before it is too late. Companies will do whatever necessary to stay afloat during these difficult times including giving everything to the big bank as collateral. Proper planning can help with getting through these slow times. A Chapter 11 is a reorganization used by businesses. It will put everything on hold and allow the business to move forward and create a plan of reorganization for that debt that was incurred prior to filing. You do not lose any assets in a chapter 11. Call the office for a free consultation.