Liquidation: Chapter 7 | Business: Chapter 11 | Reorganization: Chapter 13 | Stop Foreclosure | Bankruptcy Information & FAQs | Resource Links

 

 

Name*

Email*

Phone
   (Refresh)

Enter Text

You're not the only one...

 

"After my husband got laid off we fell behind on our credit card bills. Mrs. Blutter was very sensitive to our situation and walked us through the bankruptcy process. She gave my family the second chance we needed."

 

"Two years of a bad economy made us fall behind on our tax payments and credit line obligations. Arthur’s experience as a CPA and knowledge of bankruptcy and tax laws helped us get the IRS off our back."

 

Chapter 11

 

The Chapter 11 bankruptcy is a form of corporate financial reorganization which typically allows companies to continue to function while they follow debt repayment plans. Occasionally, individuals may be able to file for Chapter 11 bankruptcy. However, the vast majority of consumer filers end up applying for bankruptcy under the Chapter 7 or Chapter 13 Titles.

A business filing a Chapter 11 bankruptcy may be a corporation, sole proprietorship, or partnership. Even though the owners of a corporation are its stockholders, the corporation is a separate entity so when a corporation is the debtor in a Chapter 11 bankruptcy, the personal assets of the stockholders are not at risk. A bankruptcy case involving a sole proprietorship, however, includes both the business and personal assets of the owners. And in a partnership bankruptcy case, the partners' personal assets may, in some cases, be used to pay creditors or the partners may be forced to file for personal bankruptcy protection.



Bankruptcy Frequently Asked Questions:

  1. What disclosures must a collection agency provide to a debtor?
  2. What actions must a collection agency avoid?
  3. Are there any alternatives to filing bankruptcy?
  4. Does a bankruptcy discharge eliminate all debts?
  5. How much property does the debtor have to give up in a bankruptcy proceeding?
  6. How long are bankruptcy and other credit information included on the debtor's credit report?
  7. How can a debtor determine whether a debt is secured?
  8. What Options Does a Debtor Have Short of Bankruptcy?
  9. What are the Credit Counseling Requirements in Bankruptcy?
  10. What Is The Bankruptcy Abuse Prevention and Consumer Protection Act?