That’s a quite common occurrence of bankruptcy is an option for debtors. It’s not great for creditors but it is something that you have to deal with and whether it’s a chapter 7, chapter 13 or chapter 11 or mutual c with businesses typically. Chapter 11 is another name for a reorganization, it’s where the debtor reorganizes. Basically stops the collection, the bankruptcy stay will skip creditors from being able to actively collect but there gonna reorganize and they are going to present a propose plan to the creditors under that bankruptcy shield if he will. Our office works with a lot of creditors. If you’ve been presented with a Chapter 11 filing we can work with you to determine the best way that you can maximize your recovery under that situation.
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