photo credit: dreamstime What the hell is Chapter 11? Just the name gives most people a headache. OK, maybe not as much of a headache as if you work for a company that files Chapter 11 bankruptcy, or, if a company that owes you money files under Chapter 11. Most Chapter 11 bankruptcies are filed…
Category Archives: Chapter 11 Bankruptcy
What You Need To Know About Chapter 11
You may run a small business, that is, or is not, incorporated. If it is a corporation, the corporation has to file for Chapter 11 to get bankruptcy relief. But, you do not have to be a corporation to file for Chapter 11. You may run a store, own and rent a bunch of houses,…
Michigan Business Bankruptcy
OK, so the picture is Eva Longoria in her bankrupt Las Vegas restaurant. But Michigan businesses can benefit from bankruptcy filing too Chapter 11 or Chapter 13 bankruptcy can enable a business to restructure and/or discharge debt, and continue operating. What chapter of bankruptcy a business can file depends on the way the business is…
Chapter 13 Bankruptcy Not Possible, File Chapter 11?
Now, you can owe up to $1,010,650 of secured debt, and still be able to file Chapter 13 bankruptcy, depending on how much unsecured debt you owe. If you are over the Chapter 13 bankruptcy debt limit, you can still file Chapter 11 bankruptcy. So, if your Michigan house is worth $900,000, and you owe…
How Does Chapter 11 Work For A Small Business?
You may run a small business, that is, or is not, incorporated. If it is a corporation, the corporation has to file for Chapter 11 to get bankruptcy relief. But, you do not have to be a corporation to file for Chapter 11. You may run a store, own and rent a bunch of houses,…
GM, Chrysler Car Lines Eliminated
Reports online: the end for Dodge Aspen, Durango and PT Cruiser, gone from Chrysler Saturn, Hummer and SAAB gone from GM.
Another Chapter 11 for Trump
Yet another Chapter 11 bankruptcy filing for a Trump company. This is the third filing for this entity alone! Gee, I wonder how long a guy or gal who went bust this many times would last on the Apprentice.
