What is Chapter 11 Bankruptcy in the US?

Chapter 11 bankruptcy is the most common type of business bankruptcy in the US and is a powerful tool for restructuring a corporation, but it's not the only option. In chapter 11, a corporation that is insolvent can continue to operate normally while it works with a trustee and creditors to restructure its debt. That might mean extending payment terms, changing payment schedules, or modifying interest rates. Individuals can also file a chapter 11 bankruptcy, but it’s very expensive and costly for them to do so.

If you’d like more information about a chapter 11 bankruptcy, call this law firm for a free consultation:

Ascent Law LLC

8833 S Redwood Rd Ste C

West Jordan UT 84088

(801) 676-5506

https://g.page/AscentLaw

https://www.ascentlawfirm.com/chapter-11-bankruptcies/

 

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