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Chapter 7, as with other bankruptcy chapters, is not available to individuals who have had bankruptcy cases dismissed within the prior 180 days under specified circumstances. [4] In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property.
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".
A Chapter 7 bankruptcy is usually approved for those with limited income to repay what they owe. ... “Dismissal” occurs when you cannot complete the repayment plan and the case is, therefore ...
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 ...
For Chapter 7, it’s usually a few months. For Chapter 13, it could be anywhere from three to five years. However, if you’ve had another bankruptcy case dismissed in the past year, the ...
In a Chapter 7 case, the debtor has no absolute right to discharge. A creditor or trustee may file an objection to the discharge of the debt. To object to a discharge, a creditor must file a complaint before the deadline outlined in the notice sent by the bankruptcy court. More than 90% of Chapter 7 debtors receive a discharge of debts. [12]
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