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Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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When a small business (annual gross $1.2m) files for chapter

Resolved Question:

When a small business (annual gross $1.2m) files for chapter 11 restructuring, what happens to unsecured debt? generally how much does it cost (attorney & court) fees?
Is it worth it? or should the owner negotiate with creditors personally?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

Thank you for your new question.

A Chapter 11 bankruptcy is typically very expensive and time-consuming. Fees start upward of at least $15,000. Obviously if the owner is able to negotiate out of bankruptcy court it would be best
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