What if I Don't Qualify for a Chapter 7 or a Chapter 13?
You may not be allowed to file a Chapter 7 bankruptcy if your income is too high. If your debts are also too high, you may not be eligible for a Chapter 13 bankruptcy. If so, you may obtain relief from creditors in a Chapter 11 bankruptcy case.
A bankruptcy attorney familiar with all three chapters of the bankruptcy code will help you explore all of your bankruptcy options. You may, for example, qualify for a Chapter 7 even if you have high income. On the other hand, a Chapter 11 bankruptcy may give you more flexibility to modify long-term secured debt over more than a five-year term even if you may qualify for a Chapter 7 or a Chapter 13 case.