Chapter 11 bankruptcy might not be the most common form of bankruptcy — only about 8,980 Chapter 11 bankruptcies were filed in 2013 — but that doesn’t mean it isn’t an option for those who are qualified to file for it.
Similar to Chapter 13 bankruptcy, Chapter 11 bankruptcies set up a debt reorganization plan with the filer so the debt can be repaid over a set time period in a more manageable way. Unlike Chapter 7 bankruptcies, a Chapter 11 bankruptcy doesn’t discharge any debt.
Want to know more about Chapter 11 bankruptcy explained and all that it entails? Here are some of the most common question