Filing for bankruptcy can be a confusing and scary process. When you file for bankruptcy, your assets are under the control of an appointed trustee who will use your assets to pay your creditors. There are exemptions to what assets can be used to pay creditors that...
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How to File Chapter 13 as a Business
If you own a business, you might think that filing Chapter 13 as a business is out of your reach, since Chapter 13 bankruptcy applies to individuals, whereas Chapter 11 bankruptcy is for companies. You may, however, file this way if you personally owe for...
How Debt is Managed in Personal Bankruptcy
Personal bankruptcy can be handled in two different ways, under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code. Chapter 7 is used primarily for low-income debtors who own few assets and little cash. Chapter 13 is a restructuring of debt, used by people who have...


