Chapter 11 Bankruptcy
Chapter 11 Bankruptcy
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What Is a Plan of Reorganization in Chapter 11 Bankruptcy?
Chapter 11 bankruptcy can be a good option for debtors who want to reorganize their debt in order to keep their assets. A key part of any Chapter 11 case is the debtor’s plan of reorganization. The plan of reorganization outlines how the debtor will pay back creditors over time.
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Chapter 11 Bankruptcy vs Chapter 13 Bankruptcy
If you are considering restructuring your debt, you're likely wondering if you should file Chapter 11 versus Chapter 13 bankruptcy. Both Chapter 11 and Chapter 13 bankruptcy provide a way for people struggling with debt to keep their property by reorganizing their debt. Chapter 11 bankruptcy is generally more popular with businesses, but it can be a good choice for certain individuals, especially those with extremely large amounts of debt. For most individuals, however, Chapter 13 bankruptcy is often cheaper and easier.