How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 115464
Experience:  Attorney At Law handling education matters.
10285032
Type Your Bankruptcy Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

I'm involved in a voluntary Chapter 13 (1.5 years to go on

Customer Question

I'm involved in a voluntary Chapter 13 (1.5 years to go on this).
As a recruiter, I would like to provide technical contractors to my clients. In order to pay my candidates every 2 weeks, I would have to employ the services of a Factoring Company
Would this affect the status of my Chapter 13 and affect me negatively?
Thanks very much! Adrienne Landy
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
As you are in bankruptcy, the factoring company will be looking at your credit reports and because of that, it would impact the ability to get one to work with you. It is not impossible, but they may require some type of security, a co-signer or even higher interest rates for their services. But your credit record does have an impact on their decision to work with you.