The chapter of the Bankruptcy
Code providing for "liquidation," (
i.e., the sale of a debtor's
nonexempt property and the
distribution of the proceeds
to creditors.)
The chapter of the Bankruptcy
Code providing (generally)
for reorganization, usually
involving a corporation or
partnership. (A chapter 11
debtor usually proposes a plan
of reorganization to keep its
business alive and pay creditors
over time. People in business
or individuals can also seek
relief in chapter 11.)
The chapter of the Bankruptcy
Code providing for adjustment
of debts of an individual with
regular income. (Chapter 13
allows a debtor to keep property
and pay debts over time, usually
three to five years.)
Free Consultation
Take our FREE5 minute
consumer bankruptcy consultation today!
