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BANKRUPTCY ATTORNEYS!
CHAPTER 11 BANKRUPTCY
What is Chapter 11 Bankruptcy?
The different chapters of bankruptcy refer to portions of the U.S. Bankruptcy code.
Chapter 11 bankruptcy is usually used by business entities like corporations or
partnerships to allow for reorganization so that a debtor (the person or entity
filing bankruptcy) can keep going and pay those that it owes (its creditors). For
that reason, chapter 11 bankruptcy is called "reorganization" bankruptcy.
Who Files Chapter 11 Bankruptcy?
(under construction)
What are the Alternatives to Filing Bankruptcy?
Sometimes people believe that they need to file bankruptcy because they cannot see
a way out of debt -- you may be able to find help through debtor education and credit
counseling. In fact, under the new bankruptcy laws (the Bankruptcy Abuse Prevention
and Consumer Protection Act of 2005, to be exact), in many situations, 180 days
before filing bankruptcy the debtor must go through credit counseling in order to
be eligible to file for bankruptcy.