Chapter 11 Bankruptcy

Get relief from bankruptcy by hiring personal bankruptcy lawyers in Marana, Arizona

Call: 888-297-6203 Many families have torn apart because of money problems. The inability to pay off your debts can bring creditors to your doorstep which can cause immense tension in your personal and professional life. There is absolutely no need to panic as nothing is going to be achieved with it. You can, however, do something worthwhile, such as hire a bankruptcy lawyer. A local insolvency lawyer in Marana, Arizona can help you by either debt consolidation or bankruptcy. Do your own research on local bankruptcy law firms in Marana, Arizona There are chances that you might end [...]


Bankruptcy Options for Struggling Business During Coronavirus Crisis

Call: 888-297-6203 Different bankruptcy chapters offer various benefits depending on whether an individual or a company is filing for it. According to lawyers of Los Angeles law firm (, a business that is unable to generate an income, can file under chapter 7 to shut it down. Similarly, for people with minimum property and low income to repay debts can also file under this chapter. Chapter 7 is known as liquidation bankruptcy since the trustees can sell any non-exempt property of the company or individual to repay unsecured creditors. However, certain assets are protected through state and federal [...]


Which among Chapter 11 or Chapter 13 is a better option?

Call: 888-297-6203 For people struggling to pay their debts due to financial problems, chapter 11 and chapter 13 are the two best options for reorganizing the debts. According to lawyers of Los Angeles law firm (, chapter 13 is generally for people who wish to keep non-exempt property. Chapter 11 is for businesses and individuals with debts more than chapter 13 limits. Businesses cannot file under chapter 13 and it is usually preferred by individuals and sole proprietors. Chapter 11 bankruptcy Chapter 11 is available for both individual filers and businesses. Debtors can reorganize their finances and keep [...]


Confirmation Of Chapter 11 For Mark Brunell

Call: 888-297-6203 An ex-quarterback for the Jacksonville Jaguars, Mark Brunell, had filed for a Chapter 11 bankruptcy, in which the debtor includes all of his creditors and proposes a plan to repay them all. Then, the approval of the plan lies in the hands of the creditors in case of the infringement of their rights. The approval of all the infringed creditors leads to the confirmation of the plan. Mr. Brunell’s plan was also confirmed by the Judge, Jerry A. Funk. Consumer debtors, who do not pass the Means Test, are ineligible to file for a Chapter 7 [...]


Here’s what you need to know about Chapter 11 bankruptcy

Chapter 11 bankruptcy is for businesses to get their debts reorganized and also gain enough financial stability so as to avoid any liquidation of their business assets. Though there could be scenarios in which we encounter individuals who qualify for Chapter 11 bankruptcy, this filing mostly involves the businesses. The features of Chapter 11 bankruptcy are as below: Chapter 11 bankruptcy allows the regular operation of the business that is undergoing the crisis and still works on ways towards repaying the creditors in the business This type of filing can be voluntarily initiated by the debtor. In a [...]


The Decline in Chapter 11 Filings

There is certainly a vivid decline in the rate of filed bankruptcies for business across the entire United States. Bankruptcies are commonly filed by only small businesses that have annual revenue of 2.5 million or less. These small business organizations generally approach the courts for their tougher conditions towards the business operations. Only a few states such as Illinois witnessed Chapter 11 filings demonstrating a gain in 2014. The increase was close to 6 percent at the end of the first quarter of 2014. This increase has been majorly contributed by large casinos in Illinois such as Harrahs, [...]


Bankruptcy Trustee’s Role in Chapter 11 Filing

Almost all bankruptcy filings get a trustee assigned to their case by the court. Chapter 11 is no different in this regard and the role of the bankruptcy trustee in the Chapter 11 scenario is as follows: The U.S Trustee assigned by the court for Chapter 11 bankruptcy will oversee the entire case as it progresses and also review how the case is being administered The Trustee will also be responsible for monitoring the debtor under purview, while his business continues to operate normally The Trustee will be responsible for collecting the fee from the debtor. This is [...]


Your reorganization plan after Chapter 11 bankruptcy

Chapter 11 bankruptcy, also known as reorganization bankruptcy, is exclusive for corporations, partnerships and individuals to work on their reorganization strategy in the midst of financial struggles. They work on reorganizing their finances and restructuring of their debts. Since this bankruptcy has no debt ceiling (different from Chapter 13 bankruptcy), it is much preferred by small and large businesses for the restructuring of their open debts. […]


All You Wanted to Know About Bankruptcy Basis Process

The Bankruptcy Code is a uniform federal law which is used to govern all bankruptcy-related cases. According to U.S. Constitution Article I, Section 8, Congress is authorized to enact “uniform Laws on the subject of Bankruptcies”. The “Bankruptcy Code” (title 11 of United States Code) was thus enacted by the Congress in 1978 and has undergone several amendments since then. The bankruptcy process proceedings are governed by the Bankruptcy Rules (Federal Rules of Bankruptcy Procedure) and local rules of each bankruptcy court. As per bankruptcy rules, a certain set of official forms are to be used in bankruptcy [...]