Who qualifies for Chapter 11 bankruptcy?

The broad answer to who qualifies for Chapter 11 bankruptcy is that anyone can file for it, but whether your case will be approved or denied depends on a lot of different factors. Chapter 11 bankruptcy is designed for businesses and individuals who are unable to pay their debts and need time to reorganize their debts and get back on track. The chapter is specific to business and the idea behind it is that if a business is unable to keep up with its bills, the court can allow the business to reorganize its debt with the help of a bankruptcy trustee so that it can be paid off more fairly. Some companies that you might recognize that have filed for bankruptcy are GM and Delta Airlines (among others). Chapter 11 bankruptcy has more lenient requirements than other chapters because it's intended for businesses that want to continue operating as usual and have enough money coming in to pay off some or all of their debt.

If you want to get a free chapter 11 bankruptcy consultation, call Ryan Simpson. 

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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