Chapter 11 vs. Chapter 13 Bankruptcy

Once you decide to file for bankruptcy, a number of options are opened to you. Many different types of bankruptcy are available, and it may be beneficial to discuss which option is best for you with an experienced bankruptcy attorney. The legal team at the Bradford Law Offices, PLLC, knows the importance of understanding different options for those who are considering filing for bankruptcy.

In general, Chapter 11 bankruptcy focuses on continuing a business, while Chapter 13 may result in rebuilding or restructuring a business.

Chapter 11 Bankruptcy

  • There is no debt limit.
  • You can continue operating your business and keep all of your business possessions and assets.
  • You can make your own reorganization plan and act as a trustee, unlike most other bankruptcy options. Strict regulations still apply, especially on the consistency of your payment plan.

Chapter 13 Bankruptcy

  • You are free from creditor harassment.
  • Your credit score is protected from serious damage.
  • You can decide how much of the debt to pay off.

If you would like to discuss bankruptcy as an alternative to your financial problems, a business bankruptcy lawyer can assist you in this decision. Skilled bankruptcy attorneys may help remove your debt and let your business thrive again.

Contact Us

If you are considering filing for Chapter 11, Chapter 13 or any other type of bankruptcy, you can speak with a business bankruptcy attorney in Raleigh by calling 919-758-8879. The skilled legal representatives at Bradford Law Offices, PLLC, may give you the fresh start you need to return to financial success.