If there is no financial benefit to do so why would someone opt for a 5 (or more) year PIA versus a 3 year bankruptcy?
What if I don't agree to the terms of the PIA?
Can I be "forced" into a PIA?
And what constitutes "reasonable effort"?
Your PIP attempts to put one in place on your behalf.
What's the minimum one would need to do before being allowed enter the bankruptcy process?
What if you don't want the PIP to put one in place for you?
If the PIP decides that a PIA/DSA is achievable, then he will not provide you with the PIP letter for the bankruptcy.
In some of those cases we determined that we were unable to provide such a letter as we were of the opinion that the debtor could either achieve a PIA or DSA.
In some of those cases we determined that we were unable to provide such a letter as we were of the opinion that the debtor could either achieve a PIA or DSA.
My understanding is that bankruptcies provide certainty not afforded by PIAs/DSAs.
Is this not the case?
I wonder if the naive (if we're being honest) individual you mention above fully understood the implications for him and his family if he were to suffer a stroke mid-PIA.
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