Chapter 11 Bankruptcy is a court provision that affords you a temporary stay against creditor collection activities, allowing you time to reorganize and negotiate for repayment of your debt without losing profitability. The following section-by-section summary outlines the different sections when filling out a Notice of Chapter 11 Bankruptcy (For Individuals and Joint Debtors)—also known as Official Form 309E, also [...]
You’ve decided to handle your debt through Chapter 11. You’ve met with a credit counselor, filed your petition, submitted your monthly operating reports and have had your Section 341 meeting. Now what else do you need to do? The New Jersey Bankruptcy Court’s website provides an excellent breakdown of the basics of the Chapter 11 process. However, this second part [...]
After you’ve determined that filing Chapter 11 bankruptcy is the best way to handle your debt issues, what’s next? How does the process work? The New Jersey Bankruptcy Court’s website: www.njb.uscourts.gov provides an excellent breakdown of the process. This 2-part blog post will provide you with some easy to follow guidance and help you better understand the process. Let's begin [...]
You’re in debt, and you need to find some relief; and filing for bankruptcy under Chapter 7 or Chapter 13 isn’t right for you. Maybe you earn too much money. Or maybe have too much debt spread across multiple properties or other assets in New Jersey and beyond. Consequently, an individual Chapter 11 might work for you. The Plan Chapter [...]
