Need to know whether to file Chapter 11 or Debt Negotiation on a complicated investment circumstance, willing to work with me.

I purchased several investment properties through a fraudulent realtor whom has now been convicted and found guilty of mortgage fraud. This has left me w/several foreclosed properties, thousands of dollars in credit card and 2nd mtg debt. The utility companies of these foreclosed homes continue to call & demand payment, although its been over a year since I lost them. The banks have not switched the utilities. I have a primary and vacation home which I owned prior to owning the investment properties. My financial status is a wreck and need to know which avenue is best suited for me to travel down. I have few dollars to play w/but would need major negotiations or file bankruptcy keeping my assets. I need an experienced, attorney familiar with complicated issues & not going to milk me.
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Luana Martucci

Luana Martucci

Contributor Level 4
Just because you have a lot of investment debt, it does not mean that you have to file for chapter 11. You can file for a chapter 7 and you will not even have to pass the means test if the majority of your debt comes from investment/business debt. If these homes were purchased under a business name the business will still owe the debt, but if the business has been abandoned it would be difficult for the creditors to get anything out of that business. The problem comes in with any debt that you guaranteed personally and that is what the chapter 7 would take care of.
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