Chapter 11

Chapter 11 in Georgia

This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time.

Who can file?

Businesses or individuals are eligible to file a Chapter 11 in Georgia.

How will debts be repaid?

All debt is repaid via a plan of reorganization.

How long will the process last?

Timing varies depending on the individual case. Most Chapter 11 cases last years.

 

Are all debts included in the case?

All debt is either dismissed or included in the reorganization's payment plan. While tax debt is not eligible for dismissal, those filing may utilize the process to pay off tax debt, if needed. 

Think you're eligible to file for bankruptcy? Contact us here to discuss your case.