The common school of thought is that the primary benefit of a Chapter 11 bankruptcy is that it allows business owners in Hackettstown to continue to operate their companies while reorganizing their infrastructures and simultaneously stopping creditors from taking actions against them. Yet creditors may also view a Chapter 11 bankruptcy as a way of forcing a debtor company to stop avoiding its liabilities. Thus, your creditors can indeed try to force you and your company into bankruptcy.
How can they do this? It depends on the number of creditors you have. According to Section 303 of the U.S. Bankruptcy Code, if you have more than 12 creditors, than at least three of those creditors must jointly file the petition against you. These creditors must have claims against you totaling at least $15,775 if unsecured or an equal amount secured through liens. Their claims must also not be contingent upon liability or subject to any bona fide dispute.