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Replace Alternative Choice in the Bankruptcy Agreement

Replace Alternative Choice in the Bankruptcy Agreement and eSign it in minutes

Aug 6th, 2022

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How to Replace Alternative Choice in the Bankruptcy Agreement

5 out of 5

49 votes

when clients come to our firm wed like to take a comprehensive look at their financial issues and come up with a whole wide range of solutions and not just one cookie cutter type of filing of chapter 7 for this in Chapter 13 for that I think a lot of people dont realize that there are lots of other solutions that are available under state laws so of course everyone knows that theres federal bankruptcy laws and that trumps state laws but there are lots of other options to consider so Id like to give you two examples the first would be if you have a house thats facing foreclosure and then the second one is what if you have a business and the business is its not doing well or its already closed well first lets talk about the house if youre behind on your payments and youre facing foreclosure a lot of people can you know file for chapter 13 and it will delay possibly or stop the foreclosure but there are lots of other remedies that you could consider like doing a deed-in-lieu now

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What are the two types of bankruptcies group of answer choices?

Chapter 7 bankruptcy and Chapter 11 bankruptcy are both common options for businesses in declaring bankruptcy. The key differences essentially amount to liquidation vs. a reorganization and restructuring of debt.

Can you have 2 bankruptcies?

A person is fully entitled and permitted to file bankruptcy twice. The only rules on filing twice involve the time between filings, and that depends on several circumstances, among them if the first case was discharged.

What is the only bankruptcy option for a small business seeking to restructure and cont operating?

Chapter 11 is the only bankruptcy option, however, for a small business seeking to restructure and continue in operation if it is owned by a partnership, limited liability company, or corporation. (Chapter 13, the other reorganization bankruptcy, can only be filed by individuals.)

What are the 2 types of business bankruptcies Chapter 7 and Chapter 13?

Types of bankruptcies for business. There are three main bankruptcy filing options available for businesses: Chapter 7, Chapter 11, and Chapter 13. Chapter 7 uses liquidation while Chapters 11 and 13 use reorganization.

What is an alternative in a bankruptcy proceeding?

Bankruptcy Alternatives. Your options to avoid bankruptcy include debt management plans; debt consolidation loans and debt settlement. Find out if one of these will work for you.

What is the alternative of Chapter 13?

Another alternative to Chapter 13 bankruptcy is debt consolidation. This is where you borrow money at a lower rate to repay other debts that bear higher interest rates. If you have the ability to borrow at a lower rate, then debt consolidation is worth considering.

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