In 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act was passed that changed bankruptcy filing requirements. This means that there may be certain changes that need to be checked before you decide to file for bankruptcy. Being informed and prepared with the new bankruptcy requirements will make your filing process hassle free.
chapter 11 bankruptcy requirements
Chapter 11 bankruptcy is a type of bankruptcy in which the option of reorganization is made available to the business corporations, partnerships and individuals. Here, “reorganization” means continuing business and at the same time repaying the creditors as per an agreed repayment plan.