Chapter 11 is a form of bankruptcy that is common to businesses and to those individuals who exceed the debt limits of chapter 13.  This chapter of the bankruptcy code permits a debtor to remain in possession of assets or to continue operating a business while developing a plan to pay all or part of the debts. 

Chapter 11 is not only for businesses.  Debtors with high secured debt, such as those who face large mortgage loans in excess of $1 million, may not qualify for a chapter 13.  These debtors must consider filing a chapter 11 to keep their property while they reorganize their debts.

Chapter 11 is, on average, the most expensive form of bankruptcy with a filing fee of at least $1000 and attorney fees in the tens of thousands of dollars.