Chapter 11 is the payment plan form of bankruptcy for businesses and individuals with very large debt obligations. You act as a debtor in possession of your assets and have the opportunity to structure a plan that will eliminate most unsecured debt. Likewise, it allows you to restructure payments on secured debt and taxes.
When you think of airlines or major well-known businesses who have filed bankruptcy, Chapter 11 is what they filed. Our bankruptcy attorneys have vast experience with Chapter 11 and can advise you if this is your best option.