Your Virtual Credit Manager

AUGUST 1, 2023

Confirm that the bankruptcy has actually been filed with the bankruptcy court, and which type (usually Chapter 7 liquidation, Chapter 11 reorganization, or Chapter 13 if an individual is operating as a sole proprietor). We recommend you file one anyway because sometimes assets are found.

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Bankruptcy Chapter 11 Chapter 7 Bad Debt 130

Your Virtual Credit Manager

OCTOBER 15, 2024

(Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.”

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Chapter 11 Bad Debt Bankruptcy Accounts Receivable (AR) 100

Fundera

OCTOBER 20, 2018

Businesses can file for Chapter 7, Chapter 13, or Chapter 11 bankruptcy. Chapter 7 bankruptcy, also called a liquidation bankruptcy, is the most common type of bankruptcy. This is the chapter you file when your business can no longer afford to pay back debts. Chapter 11 is only for businesses.

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Business Bankruptcy Bankruptcy Chapter 11 Chapter 7 59

Lendio

MAY 9, 2024

Type Description Chapter 7 Known as “liquidation bankruptcy.” Chapter 11 Aimed at businesses, allowing them to remain operational while reorganizing debts. Chapter 13 An individual’s debt is reorganized into a payment plan over three to five years.

Bankruptcy 52

Bankruptcy Chapter 11 Chapter 7 Business Bankruptcy 52

Your Virtual Credit Manager

AUGUST 11, 2024

Chapter 11 filings, used by businesses hoping to reorganize, have increased by 34 percent in the first six months of 2024 compared to last year. Chapter 7 commercial liquidation filings are up 28 percent and sub-chapter V small business elections are up a staggering 61 percent despite the filing threshold recently being cut in half.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Fundera

AUGUST 26, 2018

Chapter 11 business bankruptcy will allow you to create and submit a reorganization plan for your business, including a proposal to restructure your finances. But the Chapter 11 process is not an easy out—and a decision will stay on your credit report for up to a decade.

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Chapter 11 Bankruptcy Chapter 7 Credit Card Companies 65

Lendio

JULY 13, 2023

Full Chapter 7. Full Chapter 11. A piece of news could include a grand opening of a store, a giveaway or a special holiday offer. Original content could include an interview or an article written by you on a topic you have unique insights about.

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Small Businesses Chapter 11 Chapter 7 Chapter 5 52