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The # 8 reason for choosing to file a Chapter 13 bankruptcy is that you may continue to operate your sole proprietor business and successfully reorganize it through a repayment plan.
If you operate a business as a sole proprietorship, Chapter 13 permits you to continue to run the business and to reorganize.
Filing a chapter 13 allows you to
reorganize your business and to continue
to operate it. It is important that you take steps to understand why the business performed poorly so that it can be restructured and successful when you are operating outside the bankruptcy protections of chapter 13. You should work with your counsel and use the tools provided and protections offered under Chapter 13 to help your business recover and operate at a profit once free from existing debt.
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