I have a good friend going thru a chapter 13 bankruptcy right now - price of diesel killed his business (trucking). Not much income, but he can’t sell his house either to get at the equity he has left, so he has to file a 13 to protect the equity he does have.
What a mess.
Some Freepers are quick to assume anyone with a bankruptcy, be it Chapter 13, 11, or 7, is a deadbeat. That’s not true at all.
Yes, SOME are. MOST are not. Things happen. People can do irresponsible things. People can also lose income, or lose jobs, or get sick, or be taken advantage of, a plethora of things.
Some Freepers are quick to assume anyone with a bankruptcy, be it Chapter 13, 11, or 7, is a deadbeat. That’s not true at all.
Yes, SOME are. MOST are not. Things happen. People can do irresponsible things. People can also lose income, or lose jobs, or get sick, or be taken advantage of, a plethora of things.
I thought most of the "reforms" affected individuals not corps?