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Chapter 13 bankruptcy, known as a “wage earner’s plan,” is a popular route for individuals who want to repay their debts while keeping more assets. Unlike Chapter 7 bankruptcy, which ...
The main difference between Chapter 7 and Chapter 13 is that in a Chapter 7 process, the court can liquidate your nonexempt assets to pay your outstanding debts. This means selling your home ...
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
To get debts discharged through Chapter 13, you must wait four years after filing a Chapter 7 bankruptcy. You can file for Chapter 13 before four years if no debts were discharged in the Chapter 7 ...
The new legislation also requires that all individual debtors in either chapter 7 or chapter 13 complete an "instructional course concerning personal financial management." If a chapter 7 debtor does not complete the course, it constitutes grounds for denial of discharge pursuant to new 11 U.S.C. § 727(a)(11) .
Accounting staffers within the Trustee's office review all debtor filings, and monitor trustee and attorney fees in all cases. Attorneys employed by the Trustee represent the office in United States bankruptcy court and pursue civil sanctions for some egregious violations of the law in Chapter 7, 12 and 13 cases.
Chapter 13 bankruptcy. The waiting periods following a Chapter 13 bankruptcy are, thankfully, shorter, “because the borrower has already taken time to improve their financial situation through ...
The United States District Court for the Northern District of Oklahoma is one of three federal judicial districts in Oklahoma. [2] Court for the District is held at Tulsa. The court's jurisdiction comprises the following counties: Craig, Creek, Delaware, Mayes, Nowata, Osage, Ottawa, Pawnee, Rogers, Tulsa, and Washington.