Bankruptcy Chapter 11

Chapter 11 bankruptcy is a form of reorganization primarily used by businesses, but it's also available to individuals with substantial debt. It allows debtors to restructure their finances while continuing operations and retaining assets. Through a court-approved repayment plan, Chapter 11 offers a path to manage obligations and emerge financially stable. While similar in purpose to Chapter 13, which is often used by individuals and sole proprietors, Chapter 11 is more complex and better suited for larger entities or those exceeding Chapter 13 limits.