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We hope you find this information helpful, but we are no longer handling bankruptcy cases. ?CAUTION: Some of the information is not up-to-date, e.g.,?exemptions, etc. ?Thank you and best of luck.

Chapter 11 Bankruptcy

There are three basic forms of bankruptcy. Chapter 7, Chapter 11, and Chapter 13. It is very unlikely that you would want, or be able to, file for a Chapter 11 bankruptcy. A Chapter 11 bankruptcy is the “Business Reorganization Bankruptcy”. A Chapter 11 bankruptcy is very complicated and extremely expensive. When I was doing bankruptcy work on a regular basis, the average Chapter 11 bankruptcy cost almost $20,000.00 in legal and accounting fees. As a result, it is generally only feasible for large businesses, e.g. airlines, casinos, automobile manufacturers.

Disclaimer: Although I am an attorney licensed to practice law in the State of New Jersey, the information on this website is for general information purposes only and is not to be construed as legal advice. Every situation is different and there are many exceptions for every legal principal or rule. You must consult with an attorney licensed to practice law in your jurisdiction for help and advice. If you reside in the State of New Jersey, I can provide you with legal advice, however, it needs to be done in person, by telephone, or by video conferencing.