What is the difference between a chapter 7 and chapter 11 bankruptcy?

Let’s learn what is the difference between a chapter 7 and chapter 11 bankruptcy. The most accurate or helpful solution is served by Yahoo! Answers.

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What's the difference between Chapter 7 and Chapter 11 bankruptcy?

I'm not sure which I need to file; I paid in almost $7,700.00 on a $4,200.00 collection and they're telling me I still owe almost $13,000.00... this has to stop... (yes those numbers are correct, sadly... I assume the collection has paid itself and the rest of it is penalties and interest to the debtor; yes there is a judgement in place)

Answer:

You can't file a chapter 11. It's for corporations only. Your choice is between a chapter 7 - a complete...

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Other solutions

Answer:

Chapter 7 bankruptcy involves the liquidation of assets in order to settle some of the debts, chapter...

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Answer:

Chapter 7 is discharge of all debt. Chapter 11 is the business (or rich individual) version of Ch 1...

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Answer:

Chapter 7 is liquidation of assets for either individuals or businesses. Chapter 11 is a reorganization...

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Answer:

Chapter 7 is liquidation of assets for either individuals or businesses. Chapter 11 is a reorganization...

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Answer:

7 no repay 11 business 13 repayment plan

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Answer:

Bankruptcy if federal - same in every state chap 7 wipes out all debts chap 13 requires partial payment...

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Answer:

Chapter 7 bankruptcy is a final liquidation of the company. Assets are sold off to pay debt. Chapter...

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Answer:

Chapter 11 is a reorganization for corporations, or individuals with debts over $336,900 in unsecured...

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Answer:

To somewhat oversimplify: Chapter 11 is "reorganization" for Corporations or a business, ...

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