Of the three primary forms of bankruptcy in the U.S., Chapter 11 bankruptcy might be the least common — in 2013, 8,890 Chapter 11 bankruptcies were filed out of the total 1,071,932 bankruptcies filed.
That doesn’t mean that Chapter 11 bankruptcies aren’t helpful — they are just more specific and help a certain type of filer in particular.
Do you know as much as you ought to about the Chapter 11 bankruptcy timeline? To understand if this is the right type of bankruptcy help for you, here are the three most essential facts about Chapter 11 bankruptcy explained:
Chapter 11 bankruptcy helps companies and businesses
Most Chapter 11 bankruptcies are filed by companies, corporations and other organizations — entities that consist of more than one person. For these c