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

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I'm involved in a voluntary...
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: 2 years ago.Category: Bankruptcy Law
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Answered in 1 hour by:
2/22/2016
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 2 years ago
Law Educator, Esq.
Category: Bankruptcy Law
Satisfied Customers: 124,169
Experience: Attorney At Law handling education matters.
Verified
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.
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Law Educator, Esq.
Law Educator, Esq.
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Category: Bankruptcy Law
Satisfied Customers: 124,169
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Experience: Attorney At Law handling education matters.

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