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cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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How much does it cost and how long does it take to file for

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How much does it cost and how long does it take to file for Bankruptcy
on a small business. What is the difference from Chapter 7 and Chapter

cortrightlaw : Chapter 7 is to liquidate a business were chapter 11 is to reorganize the debt. A business chapter 7 will cost around $2,000 and a chapter 11 would start at $15,000 minimum and depending on the complexity could cost a lot more. Chapter 11 is usually not economically feasible for small businesses.
cortrightlaw : As to how Long it takes a bankruptcy can be filed same day on an emergency basis if needed but it usually takes about 2 weeks. A chapter 7 will be completed in 6 months and a chapter 11 around 3 years.
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