In Chapter 13 the trustee is a gate-keeper, overseer, and payment distributor. Quite different than in Chapter 7.
In bankruptcy you hear a lot about “the trustee.” What does this person do, in a “straight” Chapter 7 case, and in an “adjustment of debts” Chapter 13 one?
If your business has failed or is about to, it does NOT likely need a bankruptcy. But YOU personally might.
It sure helps in understanding the two main bankruptcy options if you know the cast of characters in each one.