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After thirteen years as a laborer for Hendrix Construction, Jimmy was promoted to the position of foreman. He is directly responsible for assigning various jobs to his work crew and evaluating their performance on a daily basis. Jimmy is now a member of:
Chapter 13
A type of bankruptcy filing in the United States that allows individuals earning a regular income to develop a plan to repay all or part of their debts over time.
Steady Income
A consistent flow of money earned or received over time, usually through employment, investments, or other reliable sources.
Mortgage Loan
A loan secured by collateral of some specified real estate property which the borrower is obliged to pay back with a predetermined set of payments.
Discharge in Bankruptcy
The legal process that releases a debtor from most of their debts, providing a fresh financial start, as determined under bankruptcy law.
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