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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 ...
If the court grants the order, your Chapter 13 case would be dismissed. If this were to occur, you would no longer be eligible to get your remaining debts discharged.
Pella developers Jeffrey and Tina Ewing filed for bankruptcy, but did not provide needed financial documents, so a judge dismissed their case.
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 ...
A bankruptcy discharge is a court order that releases an individual or business from specific debts and obligations they owe to creditors. In other words, it's a legal process that eliminates the debtor's liability to pay certain types of debts they owe before filing the bankruptcy case.
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]
“Dismissal” occurs when you cannot complete the repayment plan and the case is, therefore, dismissed by the court — essentially meaning the bankruptcy was not successful.
Chapter 13 bankruptcy creates a payment plan to pay down — then eliminate — your debts. People with steady income and personal property they want to keep may benefit more from Chapter 13 than ...
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