Filing a petition under chapter 11 of the Bankruptcy Code may be right for your business if, despite present financial struggles, your business still has a valuable, marketable product or service to offer. Although business debtors most often file chapter 11 petitions, individuals who qualify may also seek relief under chapter 11 of the Bankruptcy Code.   A major benefit of chapter 11 is that it allows a business to continue operating as a debtor in possession who, acting as a fiduciary, retains possession and control over business assets and remains responsible for day-to-day business operations. Chapter 11 debtors must propose a feasible plan to reorganize debts and repay creditors. Certain creditors vote on whether to approve the plan which must then be confirmed by the bankruptcy court before plan payments begin. Determining whether to file a chapter 11 petition requires advice from an experienced bankruptcy attorney. Schedule a call today so we can discuss your options.