Posts Tagged 'chapter 11'

Bankruptcy Options for Small Business Owners

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First things first, bankruptcy may NOT be your best option. Bankruptcy lawyers have lots of tools to choose from to help distressed business owners get rid of debt and save their businesses. Small businesses face a broader set of considerations that must be weighted carefully before filing for bankruptcy. The best solution depends on how your business is structured, the amount of assets and debts it has, your specific goals and ...

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Can Individuals File Chapter 11 Bankruptcy?

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Chapter 11, also known as Reorganization, is used primarily by businesses, but individuals can file for Chapter 11 Bankruptcy. Reorganization is a good option for corporations, partnerships and sole proprietorships that want to keep doing business.

In Chapter 11, debtors seek to restructure their debts either by reducing the amount of the debt or by extending the time to repay. Chapter 11 also may require liquidation of the debtor’s assets.

The ...

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