What are the Bankruptcy Chapters?
Most consumer debtors have two main bankruptcy chapters under the Bankruptcy Code: Chapter 13 and Chapter 7. There are, however, two other types of bankruptcy: Chapter 11 and Chapter 12. Here are the principal differences between the bankruptcy chapters. Chapter 7: Liquidation Chapter 7, also called straight bankruptcy, allows you to discharge most types of […]
Business Bankruptcy: Chapter 7
If your company or business is so far in debt that it can’t continue business operations, consider business bankruptcy. Many different types of businesses can be good candidates for under Chapter 7 bankruptcy. Business Bankruptcy: Chapter 7 Chapter 7 bankruptcy for a business requires complete liquidation of assets. All business assets (if there are any) […]