New Jersey Chapter 11 Plan is a type of bankruptcy filing available to businesses in the state of New Jersey. It is a form of reorganization that allows a business to restructure its debts while continuing to operate. It also provides protection from creditors and allows the business to continue to operate while it works on a repayment plan. There are two types of New Jersey Chapter 11 Plan: Traditional Chapter 11 Plan and Small Business Chapter 11 Plan. The Traditional Chapter 11 Plan is for businesses with more than two million dollars in debt and at least twelve creditors. The Small Business Chapter 11 Plan is for businesses with less than two million dollars in debt and less than twelve creditors. Both types of plans allow the business to work out a repayment plan with its creditors that allows it to remain in operation and work towards eliminating its debt.