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Posts tagged "Chapter 11"

What is the difference between Chapter 11 and Chapter 13?

While you may know that there are clear distinctions between Chapter 7 and Chapter 13 bankruptcies, you may be more unclear with Chapter 11. As most Connecticut residents know, Chapter 11 bankruptcy primarily benefits business owners and corporations, although a small number of individuals can also take advantage of this option. Before you commit to a plan, you should clearly understand how these bankruptcy types differ.

Hundreds of Sears stores set to close in Chapter 11 bankruptcy

The modern age of internet shopping and big box stores hasn’t been good for many companies, even stores that have been successful for decades. Competition can be good when it keeps prices down for consumers, but too much of it can make it hard for some stores to compete. Consequently, some have no choice but to file for Chapter 11 bankruptcy or close their doors. Many residents of Connecticut and elsewhere may consider the closing of numerous iconic stores the end of an era.

Is Chapter 11 right for me?

You have experienced financial difficulties for several months, but you tried unsuccessfully to get your head above water and conquer your insurmountable debt. You realize that the time has come to consider filing for bankruptcy. A bankruptcy discharge could solve many of your problems, you realize, but you also worry that you might not qualify for Chapter 7 because you have a steady income and may not pass the means test. You and other Connecticut residents may benefit by learning how a Chapter 11 bankruptcy could be the better option.

Understanding Chapter 11 bankruptcy

At the Law Offices of Charles A. Maglieri in Connecticut, we know that creating and running your own business is your “American Dream.” Sadly, however, statistics show that most business start-ups fail. If yours faces overwhelming debt, you undoubtedly have numerous questions about what a small business Chapter 11 bankruptcy entails and what happens to the debts your business accumulated. Are you held liable for them?

Discuss Your Case With A
Respected Bankruptcy Attorney

Contact my office to discuss your debt relief needs directly with me as your lawyer. I offer a free initial consultation to all new clients where you can learn more about your legal options and what I can do to help you. I am available during regular business hours and by appointment at other times. You can reach me by phone at 860-242-0574 and 860-952-3674 or via email.

My law firm is a debt relief agency as so designated by Congress in the year 2005. I help people file for bankruptcy relief under Title 11 of the United States Code, known as the Bankruptcy Code.

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Bloomfield Office
34 Jerome Avenue
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Bloomfield, CT 06002

Phone: 860-242-0574
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Marlborough Office
9 Austin Road
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Marlborough, Connecticut 06447

Phone: 860-952-3674
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