Bankruptcy Chapter 13
Bankruptcy Chapter 13 is a type of bankruptcy proceeding outlined in the Bankruptcy Code. Furthermore, Chapter 13 is a financial reorganization procedure that applies to individual consumers and sole proprietorships.
When a financially distressed consumer or sole proprietor files for chapter 13 bankruptcy, the individual arranges to repay debt obligations with future income. Make monthly payments to a court-appointed trustee until you settle the debt. Usually, this occurs over a period of 3 to 5 years.
In addition, chapter 13 bankruptcy, individuals and sole proprietors are allowed to keep property they may have lost by filing for Chapter 7 bankruptcy.
There may have been destroyer lurking in your company, but you didn’t know they were there. If you are in a Chapter 13 or looking to be bankrupt, then download the Top 10 Destroyers of Value to maximize the value of your company.
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