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" ... Chapter 13 bankruptcies are nonliquidation bankruptcies, meaning assets typically needn't be sold off and debts are instead restructured. Business entities aren't eligible for Chapter 13 bankruptcies. However, independent business owners can file for Chapter 13 in their personal capacity, which may be able to help their business indirectly, though business debts can't be touched. ... "
" ... Sole proprietors may also be eligible for a Chapter 13 bankruptcy, which is a nonliquidation bankruptcy only available to individuals. This process typically takes three to five years and involves making regular payments on your debts on an extended timeline. Some of your debts may be reduced in amount as well, though typically a Chapter 7 bankruptcy represents more upfront and long-term savings. ... "