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Article: Individual Chapter 11s Really Do Work: Practical Considerations for Small-Business Debtors
- Article from:
- American Bankruptcy Institute Journal
- Article date:
- March 1, 2008
- Author:
CopyrightCopyright American Bankruptcy Institute Mar 2008. Provided by ProQuest LLC. (Hide copyright information)
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The focus of this article is chapter 11 proceedings for individual small business owners whose debt is primarily consumer debt and which exceeds the debt limits of § 109(e). Since the passage of BAPCPA in 2005, chapter 11 for the individual debtor has become a blend of chapter 13 and 11. While chapter 11 cases for an individual small business debtor can provide substantial relief for individual businessowners overburdened with debt, lawyers must be aware of the differences in chapter 11 both from practice prior to the enactment of BAPCPA, and from chapter 13 practice.
Increasing levels of credit card debt and rapidly expanding mortgage debt often put chapter 13 relief out of reach for many ...