Chapter 11

Chapter 11 bankruptcy, also known as a reorganization bankruptcy, is a court-supervised process that allows a debtor to reorganize their assets and liabilities to stay in business: 

• Goal

The goal of Chapter 11 is to create a viable economic entity by reorganizing the debtor's debt structure. 

• Process

The debtor proposes a reorganization plan, creditors vote on the plan, and the court confirms the plan if it meets legal requirements. 

• Benefits

Chapter 11 can be a good option for individuals and businesses who want to avoid liquidating assets or who have too much debt for Chapter 13. 

• Fees

Fees for Chapter 11 bankruptcy can range from $15,000 to $30,000, but can be much higher if the case involves multiple lawyers or extended litigation. 

• Limitations

The debtor must provide monthly reports to the court, and must seek permission to sell assets and start or end rental contracts.