Chapter 11 Bankruptcy

Chapter 11 bankruptcy is normally used by businesses to reorganize their debts. It is available to individuals whose debts exceed those that would be covered by Chapter 13 Bankruptcy. Businesses filing for chapter 11 normally attempt to stay in business while they reorganize themselves financially. Courts may allow full or partial relief of debts and contracts so that the company can survive. If debts exceed the value of the company’s assets, ownership may end up being transferred to the creditors.

The cost to file chapter 11 bankruptcy is much higher filing chapter 7 bankruptcy or chapter 13 bankruptcy. There are also quarterly fees that must be paid and are based on disbursment amounts paid during the chapter 11 bankruptcy.

Bankruptcy Exemptions

Bankruptcy Lawyers

Latest Blog Posts

How long after bankruptcy before I can get an auto loan?

5 Simple Ways to Avoid Bankruptcy

Bankruptcy terms you should understand - Part 3

Bankruptcy terms you should understand - Part 2

Bankruptcy terms you should understand - Part 1

Paperwork you will need when filing for bankruptcy

Changes to bankruptcy laws coming?

Should you hire a lawyer to represent you in your bankruptcy case?

New Credit Scoring Model - FICO 08

Saving your home from foreclosure by filing for bankruptcy