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Maverick, Attorney
Category: Bankruptcy Law
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Experience:  20 years of professional experience
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Exempt vs. non-exempt property under Chapter 11

Customer Question

Exempt vs. non-exempt property under Chapter 11?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Maverick replied 5 years ago.

Welcome to Just Answer! My name isXXXXX very much enjoy what I do and I hope that you will benefit from this information.


This is probably because Chapter 11 is mainly for business reorganization plans and thus personal exemptions do not really apply.



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Customer: replied 5 years ago.
I'm sorry but your answer is of no help whatsoever.

I already understand all to well that Chapter 11 is for business reorganization. I have heard that if we convert to Chap 7, at least we get to keep our cars and some personal belongings -- implying that under 11 if we can't succeed in restructuring, we do not!?

I believe this situation is too complicated for this forum. Nopt your fauly.


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