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 7 means test or have too much...
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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 can take many forms. Some of...
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 money or few assets, they may...
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 13 will be the more...
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 underused process creditors can...
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 13 bankruptcies are debt...
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 of cases, individuals benefit...
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 you can do for your finances...
Learn more about the most flexible bankruptcy chapter
When an individual is struggling with accumulating debts, it is likely that he or she has considered filing for bankruptcy as a solution to this situation. However, it's easy to become overwhelmed with the different choices in regard to all of the bankruptcy chapters....
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 to reconsider the way that you...