WHAT ARE YOU ALLOWED TO KEEP IF YOU FILE CHAPTER 11

In a Chapter 11 case, the debtor acts as a "debtor-in-possession" which means they remain in possession of all assets.  When proposing the plan of reorganization, the value of the assets of course becomes an issue because the creditors must receive at least as much as they would in a Chapter 7 liquidation.  Thus, while the debtor may keep the assets, he/she/it will need to pay out at least as much as the non-exempt value of those assets to creditors. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.