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What are the conditions necessary for using fresh start reporting in reorganization?
Lump Sum Payment
A one-time payment made specifically rather than multiple smaller payments over time.
Obligations
Duties or responsibilities imposed legally or socially, requiring a person or entity to act or refrain from acting in a certain manner.
Compounded Monthly
Interest on a loan or investment calculated each month and added to the balance, so future interest accrues on a larger total.
Savings
Money set aside for future use rather than spending immediately.
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