Frequently Asked Questions
What is the purpose of filing for chapter 11 bankruptcy?
Filing for Chapter 11 bankruptcy allows businesses to restructure their debts and develop a plan to repay creditors while continuing their operations. It provides an opportunity for businesses to regain financial stability and avoid liquidation.
Can individuals file for Chapter 11 bankruptcy?
Yes, individuals can file for Chapter 11 bankruptcy, although it is less common compared to Chapter 7 or Chapter 13 bankruptcy. Chapter 11 is typically used by individuals with high levels of debt or complex financial situations, such as high-income earners or individuals with significant assets.
Everything You Need to Know About Legal Payment Processing Solutions
This guide explains everything you need to know about how online payment processing systems benefit your firm and clients. Includes security compliance considerations.