Individual Chapter 11 Cases

Individual Chapter 11 cases refer to a type of bankruptcy filed by individuals to restructure their debts while retaining ownership of their assets. Unlike Chapter 7 bankruptcy, which liquidates assets, Chapter 11 allows individuals to create a repayment plan to pay back creditors over time. This type of bankruptcy is often used by individuals with significant income or complex financial situations, such as business owners, enabling them to regain financial stability while managing their debts. The process requires court approval of the plan and can be lengthy and complex, but it provides a pathway to financial recovery.