24 Hour Toll Free Help

Chapter 11 Bankruptcy

Chapter 11 Bankruptcy

Chapter 11 Bankruptcy is generally used by corporations and large businesses who need to restructure their debt to continue their business operations. A trustee is generally not appointed unless the debtor's ability to manage their business is considered ineffectual or dishonest. A plan of reorganization is established and reviewed by a committee of creditors' which can be composed of the top unsecured creditors who are appointed by the by the United States Trustee. This committee will provide oversight for the business and help the business develop a debt reorganization plan which is acceptable to the committee and the business.

If an agreeable plan of reorganization can not be established the business may have the opportunity to confirm the plan despite opposition from the committee, but they must first pass certain statutory tests. The reorganization plan outlines how the businesses debts will be repaid and reorganized to operate a profitable business.

More Help on Chapter 11 Bankruptcy

  • Chapter 13 Bankruptcy - Chapter 13 Bankruptcy allows the debtor to create a 3 or 5 year bankruptcy repayment plan to restructure their debt payments. - read more

  • Chapter 7 Bankruptcy - Chapter 7 Bankruptcy is a liquidation or \"straight\" bankruptcy. It is the quickest, easiest and least expensive type of bankruptcy method to discharge debts. - read more

  • Debtor - A debtor is an entity or person who owes a debt or a service to another person or entity which can also be called a Creditor. - read more

Find Other Articles

  • Tagged with the keyword:

Chapter 7 and Chapter 13 Bankruptcy Help

The two most common consumer bankruptcies are Chapter 7 and Chapter 13, our sponsoring lawyers handle these types exclusively so you can be sure you are getting accurate legal advice when you file bankruptcy. Our Bankruptcy attorneys will fight to protect your rights and your property, fight the aggressive and annoying creditors for you, and they can help you keep your home, vehicles and other property.

A lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. There are many convenient locations to make filing bankruptcy or learning about the alternatives we offer, even easier.

Get Help Now

Recent Bankruptcy Articles

  • Home Equity and Bankruptcy
    If you have equity on your house, then it is possible to use that equity in order to pay off your Chapter 13 bankruptcy at a much faster pace.
    - read more

  • Fair Credit Reporting Act
    The primary purpose of the Fair Credit Reporting Act is to ensure fairness and accuracy of credit reporting, and that the procedures followed are reasonable.
    - read more

  • Most Common Reasons for Bankruptcy
    A list of ten most common reasons people usually file for bankruptcy, including harassment from creditors and to end wage garnishments.
    - read more

  • Student Loans and Bankruptcy
    According to new changes, your student loan will only be discharged if the bankruptcy court is convinced that paying back the loan would bring about undue hardships for you or the people who are dependent on you.
    - read more