A case as filing chapter 11 reorganization of the United States Bankruptcy Code is frequently referred to as a "business reorganization bankruptcy". While individuals are not precluded from using chapter 11, it is more typically used to reorganize a business, which may be a corporation, sole proprietorship, or partnership.

• Are you considering filing for Chapter 11 bankruptcy or would like to find out more about your bankruptcy options? If so, contact a bankruptcy lawyer in your area today for a free consultation!

Chapter 11 is used mostly by businesses. In chapter 11, you may continue to operate your business, but your creditors and the court must approve a plan to repay your debts. There is no trustee unless the judge decides that one is necessary; if a trustee is appointed, the trustee takes control of your business and property.

Financial Justification of Chapter 11 Bankruptcy:

• Liquidation Analysis
• Prior Credit History
• Income and Expenditures
• Assets and Liabilities
• Earning Projections

Under the new Bankruptcy Act of 2005, credit counseling may be required or other options may be required, Contact a Chapter 11 Bankruptcy Lawyer to find out all your legal options and rights

Bankruptcy Law Is A Federal Law. This Sheet Gives You Some General Information About What Happens In A Bankruptcy Case. The Information Here Is Not Complete. You May Need Legal Advice.

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