Chapter 12

What is Chapter 12 Bankruptcy?

You know about Chapter 7 bankruptcy and Chapter 13 bankruptcy. These are the two types of bankruptcy that individuals facing substantial personal debt can file to take control of their debt. Other types of bankruptcy exist too, like Chapter 11, Chapter 9, Chapter 12, and Chapter 15. Most people are familiar with Chapter 11 bankruptcy because it is frequently discussed in the news. Chapter 11 bankruptcy allows struggling businesses to reorganize in an effort to become profitable again.
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL
  • Lawyer.com