Bankruptcy law exists to protect you, and our attorneys are here to help. Chapter 11 is available to individuals and businesses who can’t apply for other kinds of bankruptcy and need to restructure their finances to maximize the return to creditors. Companies of any size can find relief with Chapter 11, and individuals can file under it too if they have too much debt or income to qualify for Chapter 7 or Chapter 13.
Benefits of filing for bankruptcy:
Chapter 11 lets corporations, partnerships, other business entities, and individuals reorganize their debts. Chapter 13 is only available to individuals, so Chapter 11 may be the only path for other business entities — and it’s also an option for individuals who exceed Chapter 13’s debt limits.
Chapter 11 cases are typically more expensive than other bankruptcy types, and the process can be complex. It should not be attempted without an experienced bankruptcy attorney — contact McCue Law Office for a free consultation.
To begin a case, you (or, in some cases, your creditors) must file a petition with the bankruptcy court, along with:
Debtors usually continue operating after filing, but lose control over major decisions — the bankruptcy court must approve asset sales, entering or breaking leases, expanding or shutting down the business, and more.
Reorganization plans: The debtor usually proposes the plan; competing plans are rare. Reorganization gives you room to restructure your finances and pay back as much as possible. Some Chapter 11 cases convert to Chapter 7 — our attorneys will help you find the chapter that best fits your needs.
With more than 45 years of experience, we also handle personal injury, Social Security disability, workers’ compensation, and real estate matters.
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