Chapter 11

Filing bankruptcy could give you a financial fresh start if you can’t repay your debts. However, it’s not a magic bullet, and some consequences remain. The type of bankruptcy you file, along with your asset and debt makeup, will determine...

Bankruptcy can be a practical solution for people with problematic debt. It can also help them hold onto important assets, rebuild their credit, and find a stable financial path forward. However, bankruptcy has limitations that you need to understand if...

It is not likely but always possible that your personal bankruptcy case will undergo an audit directed by the United States Bankruptcy Administrator which monitors and investigates bankruptcy cases to ensure compliance with applicable laws and procedures. If the Bankruptcy Administrator finds evidence of fraud,...

A chapter 11 bankruptcy proof of claim can make the difference of whether you get paid at all for the full or partial amount the debtor owes you. Properly preparing this proof of claim and filing it within the appropriate...

If you’re a struggling business owner, filing for Chapter 11 bankruptcy can give you a chance to restructure your debts and find a way back to solvency. Hopefully your first bankruptcy filing will address your business’ financial issues. If not,...

Facing nearly $5 billion of debt and dwindling sales during the COVID-19 pandemic, luxury retailer Neiman Marcus may file for bankruptcy. Brick-and-mortar retail sales have dropped significantly because of stay-at-home orders, which have closed non-essential businesses like clothing stores. Like...

Home goods and decor retailer Pier 1 Imports Inc. filed for Chapter 11 bankruptcy on February 17 and is pursuing the sale of the company. According to its last yearly financial report, the company had about 18,000 employees as of...

President Trump has signed the Small Business Reorganization Act of 2019 (SBRA) into law, streamlining Chapter 11 bankruptcy restructuring for small businesses to make the process faster and less expensive.  The new bankruptcy law, which takes effect on February 19,...

Many people sign loan agreements without reading the fine print or understanding the consequences if the agreement contains a cross collateralization clause. Cross collateralization provisions in loan agreements can create unexpected complications for borrowers seeking to discharge debts by filing...

Typically, the menu of bankruptcy chapters presented to individuals is short: you’ve got chapter 7 and you’ve got chapter 13. Because the various flavors in which those two chapters can come is endless, though, it’s relatively rare that someone’s forced...