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Chapter 11 Bankruptcy

Learn how even the wealthy and big businesses can - and often do - get bankruptcy protection and debt relief by filing Chapter 11 bankruptcy.

Chapter 11 bankruptcy is the type of bankruptcy used by corporations and wealthy individuals when they need a fresh start. Some famous examples include Skymall and General Motors, which both used Chapter 11 to reorganize their debts or liquidate their assets.

This page is your hub for learning about how bankruptcy isn’t just for regular people that need a fresh start, but also for large corporations and wealthy individuals.

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What is Chapter 11 Bankruptcy?

Written by Attorney Jenni Klock Morel
Updated September 16, 2020

Chapter 11 bankruptcy cases are mostly utilized by businesses - think Skymall or General Motors - or folks with significant assets and debts. The typical consumer is not a Chapter 11 filer.

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Chapter 7 vs. Chapter 11 Bankruptcy

Written by Attorney Jonathan Petts
Updated October 1, 2021

Chapter 11 bankruptcy can be quite similar to Chapter 7 bankruptcy. But it's also really different. Learn how each type of bankruptcy can provide you with debt relief.

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Should I File Bankruptcy for My Business?

Written by Attorney Curtis Lee
Updated June 1, 2022

If you're struggling to make ends meet for your business you can dissolve your business under state law or file bankruptcy. The type of bankruptcy you'll file depends largely on the business's structure. You can file personal bankruptcy — Chapter 7 or Chapter 13 —bankruptcy if you're a sole proprietor. If your business is an LLC, corporation, or other legal entity, you may want to file Chapter 11 instead. It's often good to get legal help when filing a business bankruptcy.

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Reorganizing Your Debt? Chapter 11 or Chapter 13 Bankruptcy Can Help!

Written by Attorney Jenni Klock Morel
Updated April 1, 2022

Chapter 11 cases are mostly filed by businesses or people with significant assets and debts. Chapter 7 and Chapter 13 are the most common chapters filed by individuals. Read on to learn more about the differences between Chapter 11 and Chapter 13 bankruptcies.

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Corporate Bankruptcy Explained

Written by the Upsolve TeamLegally reviewed by Attorney Andrea Wimmer
Updated July 22, 2020

When a corporation gets into financial trouble, the company may be able to file for bankruptcy protection. In some ways, corporate bankruptcy is like consumer bankruptcy. But, there are also important differences. In this article, you’ll learn how the two types of business bankruptcy differ, how each works, and how corporate bankruptcy is different from personal bankruptcy.

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What is A Chapter 11 Reorganization Plan?

Written by Attorney Karra Kingston
Updated July 22, 2020

A Chapter 11 bankruptcy reorganization plan lays out how the filer will pay their debt obligations moving forward. It gives the filer the chance to restructure and renegotiate the terms of paying back creditors.

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Upsolve is a 501(c)(3) nonprofit that started in 2016. Our mission is to help low-income families who cannot afford lawyers file bankruptcy for free, using an online web app. Spun out of Harvard Law School, our team includes lawyers, engineers, and judges. We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations. It's one of the greatest civil rights injustices of our time that low-income families can’t access their basic rights when they can’t afford to pay for help. Combining direct services and advocacy, we’re fighting this injustice.

To learn more, read why we started Upsolve in 2016, our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal.