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chapter 11 bankruptcy for individuals Archives

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 organize your finances, and the assets that you hold.

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 reality is that financial struggles can lead to a great deal of stress and may force you to make certain sacrifices as a result.

How to determine candidacy for Chapter 11 individual bankruptcy

Figuring out if you are a candidate for Chapter 11 bankruptcy as an individual does not have to be as difficult as many make it seem. Yes, there are requirements you need to meet before you can file. Yes, some individuals do get denied when they file but wind up getting approved the second or subsequent time they file. You need to make sure that you are a candidate before you file the first time so you don't have to go through the hassle multiple times.

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 the smartest investors can get unlucky at some point.

Can I use credit cards during bankruptcy?

Many people decide to file for bankruptcy in order to get a fresh start from their debts. When they are in the process of paying off their debts; however, they may want to have credit cards as an extra form of financial security.

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' committee. While each creditors' committee may operate differently or pursue different goals, many of the general principles of creditors' committees apply in most instances.

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 their revenue stream. However, it's also a great option for individuals who have a high disposable income and do not qualify for Chapter 7 or Chapter 13.

What can be done about debt collector harassment?

Debt collection harassment is a harsh realty for many individuals, and can be a problem for those with large estates considering filing for bankruptcy. This blog gives a brief overview of what restrictive laws are in place against debt collector harassment.

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 not required to liquidate their assets to pay off debts. Rather, they agree to a court-approved payoff plan. Once, the payments of this plan have been successfully completed, any remaining debts covered by the bankruptcy are dissolved.

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