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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 ...
Even in cases where there is no presumption of abuse, it is still possible for a Chapter 7 case to be dismissed or converted. If the debtor's "current monthly income" is below the median income, as discussed above, only the court or the United States trustee (or bankruptcy administrator) can seek dismissal or conversion of the debtor's case. If ...
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]
The Bankruptcy Judge rejected these arguments. Marrama appealed to the Bankruptcy Appellate Panel for the First Circuit, which affirmed the lower court's ruling. [3] On appeal from the panel, the full First Circuit Court of Appeals affirmed, rejecting the argument that §706(a) gives a Chapter 7 debtor an absolute right to convert to Chapter 13 ...
Pella developers Jeffrey and Tina Ewing filed for bankruptcy, but did not provide needed financial documents, so a judge dismissed their case.
A federal judge has officially dismissed Rudy Giuliani’s bankruptcy case after the cash-strapped former New York City mayor and his creditors were deadlocked over his finances and money he owed ...
If the results of the means test show no disposable income (or in some cases a very small amount) then the individual qualifies for Chapter 7 relief. An individual who fails the means test will have their Chapter 7 case dismissed, or may have to convert the case to a Chapter 13 bankruptcy.
The case has been roiled by creditors' allegations that Giuliani is flouting bankruptcy laws and potentially hiding assets. A dismissal would end his pursuit of bankruptcy protection, but it