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Chapter 11 Lawyer

Whereas Chapter 7 bankruptcy is the most common type of bankruptcy filing for individuals, Chapter 11 bankruptcy is most commonly used by businesses that are experiencing severe financial difficulties. In a Chapter 11 bankruptcy, the business's debts are restructured and modified so that repayment on an extended schedule is possible. The most advantageous aspect of this approach is that it allows a business to remain in operation throughout the bankruptcy process, if the proprietor chooses to continue. However, the process of filing for this type of bankruptcy protection can be slightly confusing in some instances. With the help of a qualified attorney, however, you should be able to navigate the process with ease. Contact an experienced Chapter 11 lawyer in your community today to determine whether this option is right for your business.

Fast Facts

  • Many states allow you to keep property under a certain dollar value.
  • Common types of exempt property may include cars and real estate under a certain dollar value, tools used in your trade, and some insurance policies.

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