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Chapter 11 Bankruptcy
NANCY L. KOURLAND
Chapter 11 Bankruptcy
Nancy L. Kourland, a Chapter 11 bankruptcy reorganization specialist, details the circumstances
unde...
Chapter 11 Bankruptcy
Generally, individuals file for bankruptcy under Chapter 13 of the U.S. Bankruptcy Code when
attempt...
Chapter 11 Bankruptcy
Chapter 11 bankruptcy proceedings, often called “reorganizations,” are generally used by
corporation...
Chapter 11 Bankruptcy
Nancy L. Kourland is an attorney with Rosen & Associates, P.C, and is licensed in New York; she
spec...
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Chapter 11 Bankruptcy

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Chapter 11 Bankruptcy

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Chapter 11 Bankruptcy

  1. 1. Chapter 11 Bankruptcy NANCY L. KOURLAND
  2. 2. Chapter 11 Bankruptcy Nancy L. Kourland, a Chapter 11 bankruptcy reorganization specialist, details the circumstances under which an individual may file for bankruptcy under Chapter 11.
  3. 3. Chapter 11 Bankruptcy Generally, individuals file for bankruptcy under Chapter 13 of the U.S. Bankruptcy Code when attempting to restructure their debts without liquidating all of their legally unprotected assets. However, where an individual’s debts exceed the limits imposed by Chapter 13, assistance under Chapter 11 may be available in order to avoid liquidating assets under Chapter 7.
  4. 4. Chapter 11 Bankruptcy Chapter 11 bankruptcy proceedings, often called “reorganizations,” are generally used by corporations and small businesses to restructure their debts while still continuing to operate. However, under federal law, relief under Chapter 11 is available to individuals, as well. Chapter 11 debt reorganization may be particularly appropriate where an individual’s debt exceeds the limits of Chapter 13, but the individual’s income is high enough to still consider a plan that allows for restructuring debt. Under Chapter 11, an individual would typically be able to keep property and acquire new assets during the proceedings, and would be able to propose a plan that would allow debts to be restructured and perhaps paid from the individual’s future earnings. This option gives those with both high debts and high income an opportunity to negotiate a plan to repay a portion of their debts and avoid liquidating the bulk of their assets.
  5. 5. Chapter 11 Bankruptcy Nancy L. Kourland is an attorney with Rosen & Associates, P.C, and is licensed in New York; she specializes in Chapter 11 bankruptcy reorganization .

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