If you're struggling to pay your bills each month, filing for bankruptcy under Chapter 13 may allow to you get back on track by reorganizing your debts into one affordable monthly payment. (totalbankruptcy.com)
For a business, it is seen as a healing process that allows a company to reorganize debt so the company can do better moving forward. (getoutofdebt.org)
Chapter 13 bankruptcy is also known as «reorganization» bankruptcy because it allows filers to reorganize their debts in order to get current on past - due balances. (totalbankruptcy.com)