Chapter 11 For Individuals
Financial Relief For People With High Debts
Chapter 11 bankruptcy is not just for businesses. Some individuals can use it to obtain debt relief, too. It is particularly suited for individuals with high debts or who have complex asset holdings.
At the law firm of Minnillo Law Group Co., LPA, we have extensive experience in Chapter 11 filings, for individuals as well as for businesses. Our attorneys understand the critical differences between Chapter 11 and Chapter 13 exemptions and rules. If Chapter 11 can help you, our firm will work diligently to use its provisions to obtain debt relief for you.
Contact Minnillo Law Group Co., LPA, to schedule your free initial consultation.
What’s The Difference Between Chapter 13 And Chapter 11?
Like Chapter 13, a Chapter 11 bankruptcy for an individual is a debt repayment plan. If you are eligible, our firm will present a repayment plan to the Bankruptcy Court, based on your income adjusted for expenses. Chapter 11 allows you to keep the mortgaged property and other assets, which makes it suitable for individuals who own businesses or real estate holdings.
You may be ineligible for Chapter 13, but eligible for debt relief under Chapter 11 if either of these applies:
- You have more than $360,475 in unsecured debts (credit cards, medical bills, judgments)
- You have more than $1,081,400 in secured debts (mortgages, auto loans or other collateralized loans)
It is important to note that Chapter 11 has a different set of rules than Chapter 13. Our lawyers understand these rules, and we will take full advantage of these rules to protect as much of your property as possible.
Contact A Cincinnati Chapter 11 Bankruptcy Lawyer
We are a law firm and a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.