Chapter 11 Bankruptcy Law NJ
Approximately 42,250 bankruptcies are filed in New Jersey every year. Of these filings, 250 cases are Chapter 11 Bankruptcies. As a Chapter 11 Bankruptcy Lawyer, I represent both individuals and businesses reorganizing their debts. In a Chapter 11 case, whether for an individual or business, all assets are retained by the debtor. I also represent creditors involved in Chapter 11 cases.
For an individual debtor over the debt limits for a Chapter 13 Bankruptcy or in need of reorganization over more than 60 months, Chapter 11 can be the answer to a restructuring of debt obligations, both secured and unsecured. For a business, Chapter 11 can clean unsecured debts off of your balance sheet and substantially reduce the amounts owed to creditors and the repayment terms.