Corash & Hollender, P.C.

January 2016 Archives

What are the advantages to filing Chapter 7 bankruptcy?

If you choose to file for Chapter 7 bankruptcy in New York, the biggest advantage you're probably interested in is also the most basic one: eliminating an overwhelming amount of debt. While it's true that Chapter 7 can help to do this, you also want to know about some of the smaller advantages of this specific type of bankruptcy. Below are a few examples.

Chapter 11 is most often used by small businesses

When you think of Chapter 11 bankruptcy, do you imagine huge, international corporations using it? While giant companies can use it, the popular idea that it is most often used by these big corporations is actually false. Most of the Chapter 11 filings that are put in every year come from small businesses.

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