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Featured
Featured · October 10, 2026 · 6 min read

6 Classes of Creditors and Who Gets Paid First in Chapter 11

The first people to get paid are secured creditors, and they get paid up to the value of the property they hold. After secured creditors are paid, the next claims are priorities. Next comes the general…

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Delancey Editorial
Delancey Team
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8

October 10, 2026
8 Questions to Ask a Business Bankruptcy Lawyer in Queens
When you start getting more bills than payments, it’s really easy to start thinking about bankruptcy before you know what you’re getting into. But…
DE Delancey Editorial

7

October 10, 2026
7 Things That Happen to Your Business When You File Personal Bankruptcy
If you’re the owner of a business, like a restaurant, that’s losing money and the personal bills are mounting up, one option you might…
DE Delancey Editorial

8

October 10, 2026
8 Questions to Ask a Business Bankruptcy Lawyer in Naples
When you are the owner of a small business that failed, and you are already considering filing for bankruptcy, you may be asking yourself…
DE Delancey Editorial

7

October 10, 2026
7 Things to Know Before Hiring a Chapter 11 Attorney in Indianapolis
If you run a business in Indianapolis and the debt has piled up, you are probably worried, maybe not sleeping, and missing meals. At…
DE Delancey Editorial

6

October 10, 2026
6 Rules for Starting a Business After Bankruptcy
Your business failed, the debts piled up, and now you’re wondering whether you can ever try again. When you’re on the verge of bankruptcy,…
DE Delancey Editorial

7

October 10, 2026
7 Things That Happen to Employees When a Company Files Chapter 11
Chapter 11 is still an option for the troubled corporation. The filing of a bankruptcy is usually a very tense moment in the life…
DE Delancey Editorial

6

October 10, 2026
6 Things to Know About Filing Business Bankruptcy in Chicago
If you own a business and are being hounded by merchant cash advance funders or other lenders, you might be thinking about bankruptcy. Before…
DE Delancey Editorial

5

October 10, 2026
5 Types of Business Bankruptcy and Who Each One Fits
A lot of the owners we talk to at Delancey Street, buried under merchant cash advance payments, ask the same question: “Should I just…
DE Delancey Editorial

7

October 10, 2026
7 Things to Know Before Hiring a Chapter 11 Attorney in Dallas
If your company is considering Chapter 11 bankruptcy, it can’t do it without a Dallas Chapter 11 bankruptcy lawyer, and the court will want…
DE Delancey Editorial
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Insights

Top questions

What is business debt settlement?
A negotiation process where a business resolves its commercial debts (MCAs, SBA loans, equipment finance, lines of credit) for less than the full amount owed, typically by demonstrating financial hardship. Distinct from bankruptcy, settlement is a private contractual agreement.
Is it the same as Chapter 11?
No. Chapter 11 is a court-supervised reorganization. Settlement is a private negotiation, faster, less public, and usually cheaper. We sometimes refer clients to Chapter 11 when the math favors it.
Will it ruin my credit?
Defaulted accounts are reported regardless of whether they are settled or not. Settlement actually shortens the period of damage by closing the account.
How long does it take?
Every engagement is different. Timelines depend on the number of positions, whether litigation is filed, and how each creditor responds. We do not publish averages because publishing one would set an expectation we cannot honor for every business. We give you a written, engagement-specific timeline at the end of the first call.
What does it cost?
Our fee is a percentage of your total enrolled debt. We tell you exactly what we'll charge in writing before any work starts.
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