Personal Bankruptcy Chapter 11

Chapter 11 Personal Bankruptcy – Georgia Attorneys

Although Chapter 11 or “reorganization bankruptcy” is typically filed for businesses and organizations, there are certain cases where individuals file for it too. By filing a personal Chapter 11, an individual may be able to reorganize a substantial amount of personal debt or restructure his/her debts while operating a small business. Another option to consider for these individuals is the Chapter 13 bankruptcy, which share the similarity that both revolve around creating a new organizational plan.

Individuals who file for Chapter 11 are able to hold onto their personal assets while seeking a solution to repay creditors. There people are often labeled “debtors in possession” because they are able to protect valuables while filing bankruptcy. A chapter 11 plan may include future earnings for the filer and usually only encompass around 3-5 years just like a Chapter 13. However, the individual must receive credit counseling prior to filing and there is a limitation on how many times a person can file.

Normally, a personal filing for Chapter 11 means that the personal household exceeds $336,900 in unsecured liquidated debts or exceeds $1,010,650 in secured liquidated debts, which is why they cannot file for a Chapter 13. To file, one must submit a disclosure statement and a reorganization plan to the court. Once the court approves, the creditors and debtors must adhere to the plans’ regulations; the plan takes priority over anything else established in the past.

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Bankruptcy Attorneys – Georgia Areas We Serve

Coleman Legal Group, LLC handles cases in the following cities and communities: Atlanta, Alpharetta, Roswell, Johns Creek, Milton, Cumming, Marietta, Sandy Springs, Woodstock, Kennesaw, GainesvilleNorcross, Lawrenceville, Midtown, Inman ParkDuluth, Buckhead, Dunwoody, Vinings and Smyrna.

Coleman Legal Group, LLC’s Georgia lawyers practice in the areas of Divorce, Family Law, Bankruptcy, Estates, Wills, Trusts, Sports and Entertainment Law, Immigration and Business Law. We have offices conveniently located at:

Alpharetta Georgia
North Point Park
5755 North Point Parkway
Suite 51
Alpharetta, GA 30022
Phone: 770-609-1247 | Map
Atlanta Georgia
Colony Square
1201 Peachtree Street, 400
Colony Square, Suite 200
Atlanta, GA 30361
Phone: 770-609-1247 | Map
Dunwoody, Sandy Springs
GA 400, Atlanta Georgia
1200 Abernathy Rd
Building 600
Atlanta, GA 30328
Phone: 770-609-1247 | Map
Cumming Georgia
The Avenue Forsyth
410 Peachtree Parkway
Building 400, Suite 4245
Cumming, GA 30041
Phone: 770-609-1247 | Map
Johns Creek, Duluth GA
11555 Medlock Bridge Road
Suite 100
Johns Creek, GA 30097
Phone: 770-609-1247 | Map
Duluth Georgia
2180 Satellite Boulevard
Suite 400
Duluth, GA 30097
Phone: 770-609-1247 | Map
Kennesaw Georgia
TownPark Center
125 TownPark Drive
Suite 300
Kennesaw, GA 30144
Phone: 770-609-1247 | Map
1755 North Brown Road
Suite 200
Lawrenceville, GA 30043
Phone: 770-609-1247 | Map

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