Popular in Course
verified elite notetaker
Popular in Business
This 11 page Document was uploaded by an elite notetaker on Saturday December 19, 2015. The Document belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 9 views.
Reviews for Stockton--California-Is-A-Good-Example-Of-How-Bank130
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 12/19/15
Stockton, California is a good example of how bankruptcy can happen to anyone. The city, which has a population of 900,000, filed for Chapter 9 bankruptcy earlier this month, becoming the largest U.S. city to ever file a petition. Chapter 13 Bankruptcy According to a recent Chicago Tribune article, Stockton came into trouble by guaranteeing retirement and pension plans to city workers, and overspending on construction and development in an attempt to â€Œmake the city more appealing to new residents While Chapter 9 bankruptcy only pertains to municipalities, an individual struggling financially Chapter 13 Bankruptcy may file for Chapter 13 bankruptcy A bankruptcy allows you to retain control of assets and work out a repayment plan for debt Chapter 13 is an excellent option for people who need a Items like cars or homes can be saved under a Chapter 13 bankruptcy It also allows you to discharge unsecured debt, like credit card debt or medical bills, if money is still owed following the repayment plan Motty Stone The Law Offices of Schneider and Stone Chapter 13 Bankruptcy
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'