What is the difference between Chapter 11 and Chapter 7 bankruptcy?
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Answer:
Chapter 7 is discharge of all debt. Chapter 11 is the business (or rich individual) version of Ch 13 and allows you to reorganize your debt. In either case, you should contact an attorney. Business bankruptcy can be challenging. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
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