Chapter 11 is a type of reorganization bankruptcy focused on people and businesses.

These types of bankruptcy cases can be risky without proper planning and specific consideration with an experienced bankruptcy attorney. Call 973-218-6877 for a free consultation with the Chapter 11 bankruptcy attorneys of Middlebrooks Shapiro.

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What Is Chapter 11 Bankruptcy?

Chapter 11 Bankruptcy is used by individuals and businesses that want to get out of debt without having to sell property and possessions (liquidation).

Personal Bankruptcy Chapter 11

Individuals file Chapter 11 Bankruptcy when they’re struggling with major debt but want to keep their home, car, or other valuable possessions.

Business Bankruptcy Chapter 11

Companies usually choose to file Chapter 11 bankruptcy to keep their business operational without selling assets. While the company owners could choose to sell their assets to pay off creditors, Chapter 11 allows them to make more money off of revenue long-term, which enables them to pay debts more efficiently. If your business has been struggling as a result of COVID-19, you should consider a Subchapter V Bankruptcy.

About Middlebrooks Shapiro

At Middlebrooks Shapiro, our attorneys have over 30 years of bankruptcy law experience. From our office in Springfield, NJ, we help clients with the most basic or complex personal and business bankruptcy cases by leading them through the legal process of our numerous practice areas.

Call 973-218-6877 to speak with the experienced bankruptcy attorneys at Middlebrooks Shapiro. We’ll ensure you get the perspective you need to understand the full picture and the right guidance to have a successful bankruptcy, rebuild your credit, and move forward with your new debt-free life.