The Law Office of Duncan & Davis
Omaha Nebraska Chapter 11 and Chapter 13 Bankruptcy Attorneys
Chapter 11 and Chapter 13 bankruptcy are very closely related types of bankruptcy. They both involve debtors and creditors reaching a mutually beneficial agreement in which they set up a debt repayment plan. The debtor gets the benefit of being more likely to be able to maintain financial relationships with businesses and people by partially repaying debts. And at the same time, the creditors are able to recover more of the money owed to them than they would receive from a “straight liquidation” bankruptcy under Chapter 7.
Chapter 11 bankruptcy can be used by individuals, but it is typically used by businesses because of its complexity and post-bankruptcy expenses.
Chapter 13 bankruptcy can likewise be used by businesses and individuals. Under this type of bankruptcy, the debtor can reach agreements with specific creditors to pay debts up to the full amount owed, including interest. At the debtor's option, other creditors may receive a much smaller repayment or nothing at all.
Both Chapter 11 and Chapter 13 Bankruptcy were designed with an eye toward maintaining business relationships after the bankruptcy petition is complete. Businesses and individuals may want to avoid permanently destroying professional relationships that have been in existence for years because they will continue business operations in the future.
Contact our Omaha, Nebraska bankruptcy lawyers today. Our office provides our clients with full service bankruptcy and non-bankruptcy debt management options.Duncan & Davis
Omaha, Nebraska Bankruptcy Attorneys
1910 S. 72 nd Street
Suite 304
Omaha, NE 68124-1734
Phone: (402) 391-4904
Fax: (402) 391-0088
E-mail: Contact Us
New Office Location:
Duncan & Davis PC, LLO
Pacific Street Office
6910 Pacific Street Suite 103
Omaha, NE 68106
(402) 934-4221
**Our office serves clients in Omaha, Nebraska and Council Bluffs, Iowa as well as the counties of Douglas, Pottawattamie, and all of Nebraska, and Iowa.