There are some advantages to using the Chapter 13 as compared to the Chapter 13 when it comes to using a bankruptcy protection program, which is what typically filing Chapter 13 bankruptcy in San Antonio turns out to be. The wide safety net that is usually in place for risk takers to thrive in a safe atmosphere that rewards thrift is what forms the very basis of this provision in law.
Thus the bankruptcy laws stem from the need to provide a protection to risk taker that they are not totally left alone to fend for themselves in case of adverse business climates or a decision gone horribly wrong. This practice does promote thrift and an open atmosphere that encourages business enterprises at all levels. It can be regarded at all levels as a safety net that people and enterprises have against going under. The notion that the state is committed to protecting the interests of all members of society does bring on a calming effect.
How is filing Chapter 13 bankruptcy in San Antonio different from the Chapter 7 Filing
Capital involved: The first difference to the two applications is the amount of capital involved in the two. The chapter 13 does cover generally people that do not fall under the protection of Chapter 7 filing. Thus the Chapter 13 filing is more to be used for firms and companies than individuals, most of the time.
Since the sums of money involved are much higher, even multiple times that of Chapter 7, the Chapter 13 filing is designed to bring forth greater controls than the former. It allows the freedom to operate in a climate of greater control than other wise.
Time frame: As the Chapter 13 involves a far greater amount of money; it is thus only natural that a far greater time frame is used in them than with the Chapter 7. At times the need to have shareholder approval in case of joint stock companies would require a far greater time frame than a simpler set up.
Despite the advances in technology that permits faster and quicker transmission of news and messages, the traditional roles of messages and information has not decreased at all. This would mean that the requirement for Chapter 13 need a certain time to implement despite the availability of more modern and faster communication means.
Scale: Most Chapter 13 filings involve scales of operation that are multiple times that of the Chapter 7. This is reflected in the complexity of situation as well as means to achieve ends. This naturally introduces more time into the reckoning and this produces its own response time too. Thus if a faster resolution of issues are the very need, then it is wiser to accommodate the filing as a Chapter 7 even if it means curbing certain privileges of the Chapter 13. But in most cases of a Chapter 13 the operators do not have much choice considering the larger operations that need to be handled.