The goal of Chapter 9 is to safeguard a bankrupt municipality from its creditors while it prepares and negotiates a debt-reduction plan. Generally, municipal debtors can pay off their debts without selling assets. Debt reorganization for a municipal debtor can happen through: prolonging the maturity of debt, lowering the amount of principal owed or the amount of interest owed, and getting a loan in order to refinance the debt owed.