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Raw Loop Data Table of Contents 13. RAW LOOP DATA ............................................................................................................... 2 13.1 BUSINESS DESCRIPTION...................................................................................................
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Chapter 13 is a reorganization bankruptcy typically used by individuals or small business owners to restructure their debts.
Individuals or small business owners who have a regular income and want to repay their debts over time are required to file Chapter 13.
To fill out Chapter 13, individuals must submit a repayment plan to the court that details how they will repay their debts over a period of 3-5 years.
The purpose of Chapter 13 is to provide individuals with a structured way to repay their debts while keeping their assets.
Information such as income, expenses, debts, assets, and a proposed repayment plan must be reported on Chapter 13 forms.
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