Chapter 11 bankruptcy is generally a business bankruptcy that can be used by individuals if the debts exceed the limits available for a chapter 13. Unlike the chapter 13, the creditors in a chapter 11 vote on the plan, consequently making it much harder to obtain. This chapter is complicated and expensive and not a good fit for most people.
There is a new type of Chapter 11 bankruptcy that is geared towards small businesses, and under the CARES act, the benefits of this chapter have been expanded.
Talk to an experienced attorney to see if Chapter 11 of one kind or another will work for your situation.
Chapter 11 bankruptcy is generally a business bankruptcy that can be used by individuals if the debts exceed the limits available for a chapter 13. Unlike the chapter 13, the creditors in a chapter 11 vote on the plan, consequently making it much harder to obtain. This chapter is complicated and expensive and not a good fit for most people.
There is a new type of Chapter 11 bankruptcy that is geared towards small businesses, and under the CARES act, the benefits of this chapter have been expanded.
Talk to an experienced attorney to see if Chapter 11 of one kind or another will work for your situation.
If you want to see if bankruptcy is right for you, call or email me, and we will together look at your situation and find the right solution. The call and initial consultation is free. Do not be afraid to make the call towards a new beginning.
