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Then filing a Chapter 11 for your corporation will probably not help you, as a majority of your creditors must approve your re-organization plan. If this bank is your only corporate creditor, that bank must approve your re-organization plan. If the bank will not work with you now, there is no reason to expect that they will work with you if you file a corporate Bankruptcy - as they do not have to work with you because you file a Bankruptcy.
I think this is what you wanted to know. If not, please let me know.Thank you.
I am not trying to get out of paying my debt, I just do not have the same cash flow as in the past and need to reduce my payments. I tried to move the loan but can not.
If I can not make the payments, what are my options?
Then if the debt is not paid, there is nothing the bank can do to the corporation.
If you file a personal Bankruptcy, then there will also be nothing they can do to you personally. If the bank will not work with you, filing a personal Bankruptcy would be the only way to protect yourself.
Perhaps if you explain this to the bank, they will be more likely to work with you.