Declaring Chapter 11 bankruptcy doesn't have to be a negative thing. As a matter of fact, it is a way to restructure your debt so that you can keep your business, partnership or limited liability company up and running.
Chapter 11 bankruptcy can mean a new beginning
Bankruptcy and what it means for you in California
You may find yourself in financial difficulty. One day, you wake up and realize that something had to change. You can no longer maintain the level of living that you have been sustaining. For you, the answer may well mean filing for bankruptcy. There are a few different options to choose from: Chapter 7, Chapter 11 or even simply walking away from the debt and hoping your creditors don't come after you.
