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Creditors will have a measure of protection from the exercise of the government's power. The case is analogous to the government using its power to enact and maintain a Bill of Rights. Creditors will want to bring in accountants and lawyers at your expense to understand and negotiate the restructuring. While you may believe that your initial restructuring plan is the fairest to your creditors, the creditors will most likely consider it your "first offer" and begin negotiating from that point.
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