The Ins and Outs of Bankruptcy, Getting Informed Before Making a Decision

Written by Channel 11 Houston on June 25th, 2013. Posted in California bankruptcy attorney, San francisco bankruptcy attorney

San francisco bankruptcy lawyer

Filing for bankruptcy is something more of us are having to do everyday. Although it is unfortunate, making the right decision for you on the type of bankruptcy you want to file will make the process that much easier. You may be asking yourself, can I file for bankruptcy? The answer depends on the type of bankruptcy you might qualify for.

Chapter 11 bankruptcy code is commonly used for business bankruptcy, it allows both liquidation and reorganization techniques for businesses. Chapter 11 bankruptcy code may be useful for both making debt arrangements, and getting rid of it all together.

The benefits of filing bankruptcy under chapter 11 bankruptcy code include the ability to take out loans to save the business, as long as the loaner gets first priority to the profits. This saves many busine