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Chapter 11

Traditional Chapter 11 Traditionally, a business may proceed under a Chapter 7 bankruptcy, described above, or a Chapter 11 case. Chapter 11 is basically the business equivalent of a Chapter 13 for individuals. Filing Chapter 11 bankruptcy basically means you’re submitting a reorganization…

Chapter 13

Chapter 13 – Reorganization Chapter 13 Bankruptcy is the second most common type of bankruptcy and used primarily by individuals. The goal of Chapter 13 is to eliminate your debt by creating a repayment plan to pay back all or a portion of…

Chapter 7

Chapter 7 Bankruptcy Chapter 7 is the most common type of bankruptcy and often referred to as a straight bankruptcy. Under Chapter 7, you can quickly eliminate most of your unsecured debts by surrendering your assets. Unsecured debts are debts not secured with…

Chapter 11 Sub 5

Chapter 11 Sub 5 THE NEW KID ON THE BLOCK – CHAPTER 11 LIGHT With the COVID19 virus came special legislation to protect small businesses in general as they are the backbone of the American economy. Essentially, the Subchapter 5 is a Chapter…

Bankruptcy

A Chapter 7 bankruptcy can eliminate most individual or business unsecured debt. Often referred to as a “liquidation bankruptcy”

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