Ft. Lauderdale Bankruptcy Lawyer

Chapter 11 Bankruptcy for Individuals

An individual debtor has several bankruptcy options; however, if their income is too high they may not meet the requirements of the bankruptcy means test to file a Chapter 7. What's more, when a consumer's secured debt is beyond the limitations of a Chapter 13, they may have no other alternative but to file a Chapter 11 bankruptcy instead. A seasoned Ft. Lauderdale bankruptcy attorney will be able to provide you with all the information you need to proceed forward in the bankruptcy process.

Ft. Lauderdale Chapter 11 Bankruptcy Attorney

Chapter 11 bankruptcy is a "reorganization" bankruptcy. It is primarily used for businesses (small or large); however, it is also used for the individual debtor with large debts and assets which are too great for the strict limitations of a Chapter 13. Chapter 11 is the most complex of all the bankruptcies, yet it offers a great level of flexibility than other chapters and can offer great benefits to the consumer who doesn't meet the criteria for a Chapter 7 or Chapter 13.

Today, the multi-million dollar individual debtor is required to have credit counseling; however, it's a minor event and shouldn't hold up the bankruptcy proceedings. Furthermore, the Chapter 11 individual debtor is not required to complete the financial management course that is required for one to obtain a discharge under both the Chapter 7 and Chapter 13 bankruptcies. Still, for many debtors struggling with massive debts from real estate investments etc. can't be ignored, Chapter 11 may offer the solutions you need to minimize the risks involved in your investments and come out the other end with the least amount of financial losses.

Chapter 11 is also extremely useful if you have property in which you are trying to hold on to. It can allow you to catch up on past due payments, it can help you address delinquent taxes, or it can give you some time if you want to sell a property that has equity. If you are seeking bankruptcy relief and you are concerned that your debts, assets or income are too high to qualify under another chapter, contact a Ft. Lauderdale bankruptcy lawyer from Brown, Van Horn P.A. to discuss your bankruptcy options in further detail. We have helped numerous clients find the relief they were looking for through filing for Chapter 11 bankruptcy protection.

Are you struggling to pay your debts? If so, contact a Ft. Lauderdale bankruptcy attorney from the firm to schedule a no-obligation consultation.