Is there still chapter 11 bankruptcy

Asked about 1 year ago - Laurel, MD

I'm considering filing for bankruptcy due to overwhelming back taxes

Attorney answers (5)

  1. Daniel Mark Press

    Pro

    Contributor Level 14

    6

    Lawyers agree

    Answered . Chapter 11 still exists, and can be a useful tool for dealing with tax debt where the individual is ineligible for Chapter 13. We handle individual Chapter 11 cases, and wrote a book on them, including the treatment of taxes. Chapter 11 may or may not be the right option for you, so consult with an attorney experienced in handling individual Chapter 11 cases to go over your options.

  2. Matthew Scott Berkus

    Contributor Level 20

    6

    Lawyers agree

    Answered . Yes, chapter 11 bankruptcy still exists. However, it would be rare, but not unheard of, for an individual to use chapter 11 bankruptcy. Meet with a qualified bankruptcy attorney, one experienced in handling tax matters to figure out if bankruptcy is a good option, and if so, which chapter is best.

  3. Brandy Ann Peeples

    Pro

    Contributor Level 19

    4

    Lawyers agree

    Answered . This question is far too specific to be answered on a general website. Moreover, you should consult an attorney to determine which type of bankruptcy -- chapter 7, chapter 11, chapter 13, etc. -- is right for your particular situation. Each chapter has its own requirements, so it's best to let an attorney review your situation for your best option. But yes, Chapter 11 does still exist although it is not as common as Chapter 7 or 13.

    DISCLAIMER: Brandy A. Peeples is licensed to practice law in the State of Maryland. This answer is being provided... more
  4. Griffin Scott Dunham

    Contributor Level 7

    4

    Lawyers agree

    Answered . Please provide more facts before any lawyer can provide helpful advice. Thanks.

    This answer does not create an attorney-client relationship. This answer is not legal advice and must not be... more
  5. Ori Samuel Blumenfeld

    Contributor Level 6

    Answered . Your question is unclear. If all you are asking if chapter 11 exists (possibly for individual's such as yourself) then yes. I suggest you speak with a lawyer to see if chapter 11 is right for you.

    Legal disclaimer: This message does not constitute legal advice and does not create an attorney-client... more

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