Flynn Law Firm
Flynn Law Firm
  • 104 S. 4th Street Cabot, AR 72023
  • Call Us To Schedule Your Complimentary Debt Relief Strategy Session (Virtual Appointments Available)

    (501) 819-8090

What Is A Chapter 11 Bankruptcy And Why Do Individuals Or Companies Choose To File A Chapter 11?

A chapter 11 bankruptcy is a much more involved, complex, and time-consuming process that is more customized to the circumstances of one’s case. The fees are also higher, and it can take longer than five years. Chapter 11 is usually for businesses that plan to continue operating without the bankruptcy protection of chapter 11. This gives the business an opportunity to regroup, reorganize, and force a payment plan onto their creditors that the creditors were not willing to agree to without a bankruptcy in place.

When an individual files a chapter 11 bankruptcy, it is usually someone with multiple millions of dollars in debts. They usually have debts that exceed the chapter 13 debt limits.

For more information Bankruptcy Law in Arkansas, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (501) 819-8090 today.

Flynn Law Firm

Call Us To Schedule Your Complimentary Debt Relief
Strategy Session (Virtual Appointments Available)
(501) 819-8090

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