» Business Bankruptcy

Chapter 13

A Chapter 13 bankruptcy allows a debt-laden sole proprietorship that still has significant income to submit an orderly plan to the courts to pay back debts over a few years. This can offer advantages to the debtor not found in other forms of bankrupt… Read More

Chapter 11

For a company faced with a crippling loss of business or bad debt there are options for it to either go out of business or formulate a recovery. When a company chooses to reorganize its business in order to become profitable once more, it will follow… Read More

Chapter 7

A Chapter 7 filing is an option for a business that finds itself unable to continue. Under a Chapter 7 bankruptcy filing, the company stops all operations and goes completely out of business. A trustee is appointed to liquidate [sell] the companyR… Read More