Intelligence

11 Things Business Owners Should Know About Chapter 11

What should business owners know about filing chapter 11 bankruptcy? How much does it cost to file? What are the benefits of filing (restructuring debt, eliminating debt, extending payment periods, etc.)? Do creditors have to agree to the plan? What are the drawbacks? Could creditors force the company to shut down? Could the business owner’s personal assets be taken? Requirements: Financial advisors, career coaches, bankruptcy experts.