JCPenney’s Filing for Chapter 11. How is This DIfferent Than Chapters 7 and 13?
The Pandemic has affected many individuals and companies...
The Pandemic has affected many individuals and companies which has forced store closings
and others to file for bankruptcy. JCPenney has been a well known company for decades and
it’s May filing for bankruptcy looked like a way out, but the pandemic has caused more problems
which may see the store close permanently.
Chapter 11 is filing used by companies that gives them the ability to restructure debt. For
individuals, Chapter 7 and 13 are the better choices. Chapter 7 allows you a fresh start with the
possibility of not having to pay back debt. Chapter 13 will allow for you to reorganize debt so
that you can better make payments.
Let mclawgroup.net help you better understand the difference between these solutions that can
get you back on your feet and the financial freedom you deserve.