Chapter 11 Bankruptcy

Chapter 11 Bankruptcy from Shevitz Law Firm

By: Shevitz Law Firm  09/08/2015
Keywords: Attorneys Bankruptcy Law, Bankruptcy Law Firm, Corporate Bankruptcy

Chapter 11 is a type of bankruptcy that allows individuals or businesses to repay some or all of their debts over an extended period of time, often with very little interest. Individuals or business must set forth a plan of reorganization which is reviewed by the Court and then voted on by creditors for approval. It can be used to become current on missed mortgage payments, lease payments, and even car payments. Unlike Chapter 13 bankruptcy, Chapter 11 bankruptcy can also be used reorganize business entities and is the primary option for corporations that are looking to use bankruptcy as a tool to reorganize their debts. Many famous corporations have successfully reorganized under Chapter 11 Bankruptcy including the Los Angeles Dodgers, Chrysler LLC, and General Motors Corporation.

Keywords: Attorneys Bankruptcy Law, Bankruptcy Law Firm, Chapter 11 Bankruptcy, Corporate Bankruptcy

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