Business BankruptcyChapter 11 is the plan payment form of bankruptcy for businesses and individuals with very large debt obligations. You act as a debtor in possession of your assets and have the opportunity to structure a plan that will eliminate most unsecured debt, restructure payments on secured debt and taxes.
When you think of airlines or major well-known businesses who have filed bankruptcy, Chapter 11 is what they filed. I have vast experience with Chapter 11 and can advise you if this is your best option. Farm BankruptcyChapter 12 is the plan payment form of bankruptcy for farmers. A Chapter 12 is almost identical to a Chapter 13, except you receive sweat-equity in your farm. To qualify, a majority of your income must be from farming. I can evaluate your situation and advise you if Chapter 12 is right for you.
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