07-20-2008, 12:16 PM
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Old broad
Join Date: Oct 2002
Location: Away
Posts: 13,933
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Quote:
Originally Posted by candyflip
You can do it every 7 years, at least Chapter 11. I have an uncle who seems to be a real pro at this scheme and does so every 7 years, no fail.
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You sure he's doing Chapter 11?
Quote:
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Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to any business, whether organized as a corporation or sole proprietorship, or individuals with unsecured debts of at least $336,900.00 or secured debts of at least $1,010,650.00, although it is most prominently used by corporate entities.
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