Maybe you have filed for personal bankruptcy before. Maybe you are contemplating that legal option right now. Even those who need to and should file for Chapter 7 or Chapter 13 bankruptcy tend to hesitate. They worry that doing so will look bad, or they worry that they will never repair their credit scores.
There are many types of bankruptcy that a company may consider when seeking relief from debt. The type that is familiar most is Chapter 11, though if asked, many people may not know exactly what this form of bankruptcy entails. It may be helpful for companies, and at times individuals, in Kentucky to gain a basic understanding of this type of debt relief.