Chapter 11 Bankruptcy

Chapter 11 Bankruptcy Overview

CHAPTER 11 BANKRUPTCY, although seldom filed by an individual, is an alternative for an individual to Chapter 13 Bankruptcy if that individual is over the debt limit to file for Chapter 13 reorganization. Like Chapter 13, it allows the individual to reorganize their debts under a plan approved by that individual’s creditors. It is a very expensive and time consuming process and is normally used by business entities.