The Chapter 11 Bankruptcy Basics

Also known as the reorganization stage of bankruptcy, the Chapter 11 bankruptcy was derived from the USA bankruptcy code 11. It is a type of insolvency that entails the reorganization of a debtor’s assets and business affairs. This form of liquidation is filed by corporations that need enough time to reorganize their debts and it is basically meant to give a fresh start to the debtor. The fresh start is subjected to the Chapter 11 bankruptcy obligation fulfillment by the debtor, under the reorganization plan. It is available to partnerships, corporations and individuals. This form Read More …

5 Alternative Bankruptcy Options You Can Explore

Bankruptcy Pre Discharge Course There are many bankruptcy options that you should explore before you consider filing for bankruptcy. While bankruptcy can help protect some of your assets from creditors, it can also hurt your credit standing and prevent you from being able to borrow money at reasonable rates in the future. Your bankruptcy filing will appear on your credit report for the next ten years. Here are some alternatives you can pursue before you take the serious step of filing for bankruptcy. Negotiate a repayment plan with your creditors If you approach your creditors Read More …