Chapter 11 Bankruptcy

Chapter 11 Bankruptcy is also referred to as business reorganization. A Chapter 11 bankruptcy is a tool used by commercial enterprises allowing them to continue doing business while repaying creditors through a court-approved plan. Individual consumers do not commonly use chapter 11 bankruptcy because it is far more complex and expensive to achieve. However, an individual consumer may file for Chapter 11 bankruptcy if their debt exceeds the legal limit placed upon a Chapter 13.

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