Paulo Dessario is the owner of Paulo's Pizzeria, which has not been doing well in the last year. He files for bankruptcy under Chapter 13. Which of the following is true of Chapter 13?

Question

Quizplus · Accepted Answer

Under Chapter 13 bankruptcy, the debtor is allowed to continue operating their business, whether it is exempt or not. The purpose of Chapter 13 is to reorganize the debtor's finances and establish a repayment plan while allowing them to keep their property and continue operating their business. Therefore, Paulo can continue to operate his pizzeria while going through Chapter 13 bankruptcy.

Paulo Dessario Is the Owner of Paulo's Pizzeria, Which Has