Starting a franchise during a 13

[patieboy38]

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?

[frogger]

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........

[patieboy38]

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)