How bankruptcy restructures debt

“Restructure debt” describes what bankruptcy can do and is one of the primary benefits of Chapter 13 and Chapter 11 bankruptcy. The Bankruptcy Code contains several provisions that form the framework to allow for debt restructuring.  11 U.S.C. § 507 prioritizes debt into domestic support obligations, administrative expenses such as attorneys’ and other professionals’ fees, unpaid wages, ...

Leave a Reply

Your email address will not be published. Required fields are marked *