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What is Chapter 11 Bankruptcy?

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    Chapter 11 reorganization, also called liquidation bankruptcy, is filed by businesses like corporations and partnerships or individuals who owe more than approximately $1.1 million dollars of debt.

    What’s the difference between Chapter 7 and Chapter 11 Bankruptcy? Chapter 11 reorganization helps keep businesses afloat while they reorganize their debts and come up with a repayment plan, hence reorganization. Chapter 11 could be beneficial to a company because it allows for the reorganization of debt so that the business can reemerge as a healthy entity.

    Benefits of chapter 11 Bankruptcy:

    • Adjustment of interest rates
    • Protect creditors from harassment
    • Borrow post-petition
    • Assume or reject unexpired leases or contracts that are deemed unprofitable
    • Cure defaulted obligations like lease or mortgage
    • Sell property free and clear of liens and interest

    Call Chapter 11 Bankruptcy Orlando Bankruptcy Lawyers for a
    Free Consultation. 407-412-7041.