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From there, two potential consequences could occur: a case dismissal or conversion to Chapter 7 bankruptcy. Case dismissal After one or more missed Chapter 13 payments, the trustee may file a ...
Skipping a Chapter 13 plan payment can negatively impact your Chapter 13 case. If you miss a payment under the plan, the court can decide to dismiss your case or change your bankruptcy case to ...
A bankruptcy lawyer can assess your financial situation, advise you on the most suitable type of bankruptcy to file (such as Chapter 7 or Chapter 13), prepare and file all necessary paperwork ...
Congress amended this section of the Bankruptcy Code to provide for the dismissal or conversion of a Chapter 7 case upon a finding of "abuse" by an individual debtor (or married couple) with "primarily consumer debt". The pre-BAPCPA language of § 707(b) provided for dismissal of a chapter 7 case upon a finding of "substantial abuse".
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
A chapter 13 plan is a document filed with or shortly after a debtor's Chapter 13 bankruptcy petition. The plan details the treatment of debts, liens, and the secured status of assets and liabilities owned or owed by the debtor in regard to his bankruptcy petition. In order for a plan to take effect, it must meet a number of requirements.
Chapter 13 bankruptcy: The basics. Chapter 13 bankruptcy lets you reorganize and repay your debts over three to five years. You make monthly payments to a trustee through a court-approved ...
Among the topics covered by the FRBP are adversary proceedings in bankruptcy, commencement of cases (by filing a voluntary or involuntary bankruptcy petition), how a creditor may file a proof of claim in bankruptcy or a petition for relief from automatic stay, the duties of the debtor, time periods for filing various types of motions, and the ...
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