Advantages and Disadvantages of Chapter 11 Bankruptcy

Businesses or individuals facing financial challenges because of debts may file for bankruptcy protection to manage them.   Chapter 11 bankruptcy, also known as “reorganization bankruptcy”, allows business organizations to continue their activities and maintain possession of their assets. As this bankruptcy type permits continuous business operations under court supervision, debtors have a way of paying […]

Chapter 7 vs. Chapter 13 Bankruptcy in Nevada

Bankruptcy is a method to eliminate or at least reduce debt when bills pile up beyond one’s ability to repay them.   When all other potential courses of action to get back on track is exhausted, bankruptcy is viewed to be as the last resort.   Bankruptcies are divided into types, also called Chapters. Chapter 7 and Chapter 13 […]