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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso – How Does Chapter 13 Bankruptcy Work?
Description: How Does Chapter 13 Bankruptcy Work? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Chapter 13Â bankruptcy reorganizes the debt and sets up a payment plan. The debtor can keep their house as long as they make the payments. The debtor has 3-5 years to pay off the debt in most cases. To use Chapter 13, the debtor must submit a reorganization plan which asks for debt forgiveness for some debts and a repayment plan for the creditors. Some debts are not dischargeable in any event such as child support payments, s...