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SCAM ALERTS:
Unfortunately, during this economic downturn, many scam artists try to take advantage of homeowners and their difficulties. You must be cautious of any advice you find on the Internet. Carefully research any company that you use. To help you with your investigations, here are some reputable organizations to visit:
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Bankruptcy Chapter 11 is a term that many people have heard of on the news or in the media. It seems like almost every year, one or more of the airlines files a Chapter 11 case. The purpose of Chapter 11 is to reorganize complicated finances, typically for a corporation. While it is true that some individuals file under Chapter 11, it is normally because they are trying to restructure their finances and they are over the limit (have too much debt) for the consumer reorganization provisions of Chapter 13. Attorney fees for a very basic Chapter 11 case can typically run $25,000 and more, so it is not used by many individuals unless they have a very high net worth and a very high debt load. Helpful Links: |
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