article thumbnail

Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

Creditors are prohibited from contacting you after your petition is filed. While bankruptcy law forces you to sell some assets to repay unsecured creditors, the majority of Americans keep all of their property because of bankruptcy limits on the categories of assets that may be used to settle debts.

article thumbnail

How Businesses Use Corporate Debt Restructuring for Liquidity

Debt RR

Businesses restructuring debt typically do so because they’re having trouble meeting obligations, and it goes both ways. A B2B company may be in financial trouble because it’s having trouble collecting on its own outstanding invoices. Many businesses are both debtors and creditors. Past-Due Secured Debt.