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Chapter 13
A Chapter 13 bankruptcy allows a debt-laden sole proprietorship that still has significant income to submit an orderly plan to the courts to pay back debts over a few years. This can offer advantages to the debtor not found in other forms of bankrupt…
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Chapter 11
For a company faced with a crippling loss of business or bad debt there are options for it to either go out of business or formulate a recovery. When a company chooses to reorganize its business in order to become profitable once more, it will follow…
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