Chapter 11 vs Chapter 13
Call: 888-297-6203 Chapter 11 and Chapter 13 are two very similar bankruptcy chapters. The major difference between the two chapters is that Chapter 13 is exclusively for individuals while Chapter 11 is open for businesses as well as individuals. Also, there is a ceiling for unsecured and secured debt in Chapter 13 which is absent in Chapter 11. Chapter 11 can also be regarded as an expedited Chapter 13 in many situations as the process of bankruptcy under Chapter 11 is usually very swift. The reason for this higher fees, private bankruptcy trustee, faster processing, etc. Chapter 11 [...]