A misconception about Chapter 11 bankruptcy is that it is only for businesses. While this option is mainly used by corporations or partnerships, certain individuals may qualify for it, too. You may make too much money to pass the Chapter...
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Chapter 11 Bankruptcy for Individuals
Could you face allegations of bankruptcy fraud?
Bankruptcy fraud allegations are very serious. Not only can false or misleading statements cause your debts not to be discharged, but you could wind up doing a stint in federal prison if you are convicted on the charge. Bankruptcy fraud...
What power do debt collectors really have?
Sure, they can be quite annoying, but debt collectors aren't nearly as powerful as they may threaten they are to debtors. These third-party debt collectors do have the right to take you to court to pay your debts, but if you have little...
What are the differences between Chapter 11 and Chapter 13?
Individuals who are contemplating filing for bankruptcy to get out of debt may wonder whether they should avail themselves of the financial relief provided under Chapter 11 or Chapter 13. In most instances of consumer bankruptcy, Chapter...
What is an involuntary bankruptcy?
Debt takes a heavy toll on those who owe and sometimes forces them to seek relief via bankruptcy. But there is a little-known tool that creditors can use to get their money -- involuntary bankruptcy. Most people have never heard of this...
Who can file for Chapters 11 and 13 bankruptcies?
The first thing that debtors often ask their bankruptcy attorneys is what property they will be allowed to keep and what they will need to surrender. The property you are permitted to keep is known as "exempt" property. Chapter 11 and...
Chapter 11 bankruptcy can be beneficial for individuals
Chapter 11 bankruptcy is a type of bankruptcy that is most often associated with companies. This is because the filing makes it easier to deal with a situation in which there are high debts and high incomes involved. In the vast majority...
Discharge your debts through Chapter 11 bankruptcy
Struggling with debt can be extremely stressful, and sometimes it can be difficult to know which way to turn. While there is a certain social stigma attached to the act of filing for bankruptcy, it is actually perhaps the best thing that...
Large estates are best suited to Chapter 11 bankruptcy
If you are the owner of a large home but are struggling with finances, particularly increasing debts, you may not know which way to turn. If your outgoings are not matching up with your income although your income is high, it may be time...
The emotional side to a bankruptcy filing
When you file for Chapter 11 bankruptcy, it probably means that things have been tough from a financial perspective for quite a while. It's easy to say that financial wealth never needs to affect mental health and happiness; however, the...
Chapter 11 bankruptcy: A solution to failed investments
When you have a large estate and a high-earning potential, it is likely that you repurpose your assets into many different investments. All investments, no matter how sensible they might seem, have some risk associated with them, and even...
Chapter 11 and creditors’ committees
When a business files for Chapter 11 reorganization, a number of parties may become involved in the process. Depending on the nature of the debts motivating the business to reorganize, the procedure may call for forming a creditors'...
Individual bankruptcy: Filing Chapter 11
Chapter 11 bankruptcy concerns itself with helping people reorganize their debts, their income and their methods of repayment. It is a great solution for a business, because it offers a way to enable businesses to change the means of...
Common questions about debt discharge in bankruptcy
Debt discharge occurs when a court rules that the debtor is no longer liable for certain debts that they previously owed. It can often be the case in individual bankruptcy cases under Chapter 11. This blog will serve as a brief overview...
What should I submit with my Chapter 11 bankruptcy application?
Chapter 11 bankruptcy is a form of reorganization bankruptcy that is usually pursued by businesses and corporations. However, individuals may also be able to file for Chapter 11 in some cases. As a reorganization bankruptcy, debtors are...