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Bankruptcy Intake Form Bailey & Galyen

Bankruptcy Intake Form Bailey & Galyen

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chapter 11 is a form of reorganization under the bankruptcy code that's used by businesses corporations and individuals who are suffering financial difficulties usually over extension of credit or loss of income it allows them to reorganize their debts into a payment plan that is approved by the court and where they make the payments to creditors ing to the terms of the plan oftentimes in chapter 11 we can use the plan process to do things such as eliminate unsecured debt reduce unsecured debt and make the payments more affordable stop collection actions by creditors including foreclosures repossessions garnishments attachments and levies and seizures with chapter 11 we can stop irs collections and state tax collections we can stop things like levees and attachments and even closures of businesses what they call lockdowns by taxing authorities so that those businesses can reorganize their tax debt pay it off in an affordable fashion and avoid being closed down by the tax man you

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