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…If you are a business you can file under chapter 11 where you will be
able to re organize your debts until you manage to pay them off or you
will be able to renegotiate in such a way that you can remain in
business while you are getting your financial situation back in order…

…There are a series of tests administered to find out if you qualify to
file under Chapter 7 with the new bankruptcy laws. Basically, an income
calculation will take place to find out if you have a current monthly
income, after taking into account allowable expenses if your income is
less than the average in your state you may…

…o all your creditors listed as part of the repayment plan. Of the 2 different types of bankruptcy available to individuals this helps you
meet your financial obligations while at the same time maintaining your
creditor’s at bay and stopping them from taking any collective actions
against you….

…Simple put, if they find you have the means, current income level, to
be able to pay off your debts, you will be restricted to filing under
Chapter 13 whether you like it or not….

These
are just a few snippets of the article, read on through the link above or visit
our home page about How
To File For Bankruptcy for even more great info.