WORD OF THE DAY: WORKOUT - - an arrangement, outside of bankruptcy, by a debtor and its creditors for payment or re-scheduling of payment of the debtor's obligations. COMMONLY applies to an informal ARRANGEMENT between a busi ... More
2. ) Adjustments of debts of an individual with regular income under the Federal BankruptcyCode. Chapter 13 enables a debtor who is an individual to develop and perform a plan for the prepayment of creditors over an extended period. The plan might provide for full or partial repayment. Chapter 13 allows the debtor to retain his or her property, unless he or she agrees otherwise in the plan. See Bankruptcy.
Fund Letters
