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Starting a franchise during a 13

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    Starting a franchise during a 13

    Hello :

    Anyone know about this topic? I'm in my last year of a 5 yr plan, paid 105K out of 130K base plan (not 100% payback). I woud like to start a franchise and can get a loan for the franchisee fee (credit score back to 700) and startup costs. Would the court allow this?

    #2
    Whether the trustee allows it or not, you still have a problem.

    1. You must borrow money for the franchisee fee.

    2. You must borrow money for startup costs.

    3. You're attempting to start a business with no cash/capital reserve.

    1 + 2 + 3 = recipe for failure.

    Most of the good franchises require you to have a minimum net worth or available capital on hand.

    Not to discourage you, just food for thought........
    All information contained in this post is for informational and amusement purposes only.
    Bankruptcy is a process, not an event.......

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      #3
      Appreciate the reply and, not discouraged so no worries. more looking for answers around courts reaction, involvement. As far as your 1,2,3 - you don't know enough to assume those apply - rather not get into detail on what I have (or don't have)....
      If anyone started a bus. while in a 13 I'd love to hear from you (esp. if it was a franchise)

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