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Markle
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1888 Discuss
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 Posted: Mon Sep 08, 2008 5:49 am |
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Farin
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| Posted: Mon Sep 08, 2008 5:57 am |
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Provision for chapter 11 is referred only for companies or any partnership firms. In USA many business faces financial trouble for repayment of the debt. In such a case, chapter 11 petition gets understand the debt problems and try to continue the business as usual. It not only helps businesses but also handle their debt problems. The chapter 11 identify as debtor in self-possession. In the initial time there is no trusty gets appointed to handle the case. The debtor in self-possession condition will gives chance to the debtor to run the business without any trouble from the creditors.
How the Chapter 11 helps to solve the debt problems?
Farin>>>> |
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Eric
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| Posted: Mon Sep 08, 2008 6:03 am |
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After the debtor in self-possession, once the proper debt recovery plan approved by the court than it is most important task for the debtor to repay the due as per court order. It is most important task for you to get repay the debt of the certain part. It is most important for you to follow the court order and repay the amount as per your planning. It is important to get the proper repayment as per your court order.
Eric  |
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