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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 ...
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]
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 ...
Pella developers Jeffrey and Tina Ewing filed for bankruptcy, but did not provide needed financial documents, so a judge dismissed their case.
Here’s an overview of how long after bankruptcy you can get a mortgage, depending on the kind of loan and the chapter you file: ... plan and the case is, therefore, dismissed by the court ...
A judge said Wednesday he was leaning toward throwing out Rudy Giuliani 's bankruptcy case after lawyers for the cash-strapped former New York City mayor and his biggest creditors — two ex ...
A bankruptcy notice can be issued where, among other cases, a person fails to pay a judgment debt of at least $5,000. [20] A person can also seek to have themselves declared bankrupt for any amount of debt by lodging a debtor's petition with the "Official Receiver", [ 21 ] which is the Australian Financial Security Authority (AFSA).
Filing for bankruptcy after you’ve defaulted can protect your assets from being seized by the lender or creditor. How it works depends on the type of bankruptcy you file. Chapter 7