How to Negotiate a Bankruptcy Reorganization


Jason Dockery
HOME ยป Legal

As the owner or operator of a business facing financial problems, you have the option to file for Chapter 11 bankruptcy protection. Chapter 11 of the U.S. Bankruptcy Code provides your business the ability to reorganize. Creditors favor a Chapter 11 reorganization over a Chapter 7 discharge. Through a Chapter 11 reorganization, creditors are able to recoup at least a percentage of the money owed to them. On the other hand, in a Chapter 7 bankruptcy, the typical creditor will not receive any payment on its account.Difficulty:Moderately ChallengingInstructions Things You'll Need
Petition for bankruptcy
Chapter 11 bankruptcy reorganization plan

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