BUSINESS & FARM BANKRUPTCY
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.
Chapter 12 is the payment plan form of bankruptcy for farmers. A Chapter 12 is almost identical to a Chapter 13 (which you can read more about on our bankruptcy basics page), except you receive sweat-equity in your farm. To qualify, a majority of your income must be from farming. Our attorneys can evaluate your situation and advise if Chapter 12 is right for you.
BUSINESS & FARM BANKRUPTCY ATTORNEYS IN FAYETTEVILLE & FORT SMITH, ARKANSAS
Chapter 11 and Chapter 12 are very specific types of bankruptcy law. When navigating the legal world of bankruptcy, you'll want an experienced attorney in your corner for the best possible outcome of your case. If you live in the Fayetteville or Fort Smith area, contact the Bond Law Office to schedule a free consultation and review of your case.