Chapter 11 Bankruptcy
Can An Individual File Chapter 11?
Chapter 11 bankruptcy is available to individuals and businesses. Most Chapter 11 cases involve corporate restructures, but the process can be used for reorganizing personal finances.
Few attorneys successfully handle individual Chapter 11 filings, but at Leiderman Shelomith Alexander + Somodevilla, PLLC, we are fully equipped to assist you. Let us help you take advantage of a more meaningful debt restructuring as a consumer.
Call (954) 516-2566 or contact us online. Our Chapter 11 lawyers serve Broward, Miami-Dade, and Palm Beach Counties.
Chapter 11 Eligibility
If you have too much disposable income after paying your necessary expenses and you are unable to pass the means test, you may be considered ineligible to file a Chapter 7 bankruptcy. If you have borrowed a large amount of money, the Chapter 13 debt limits may not be sufficient. A Chapter 11 filing provides the best option for this type of consumer.
How Chapter 11 Can Help You
A Chapter 11 case is designed to handle even the most complex problems of an individual with a large amount of debt.
Below are several benefits a consumer can get in a Chapter 11:
- The means test does not apply to individual debtors in Chapter 11 cases, so any individual is eligible to file a Chapter 11 bankruptcy.
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