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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 ...
[13] In Chapter 12 and Chapter 13 cases, the debtor is usually entitled to a discharge upon completing all payments under the plan. If the debtor fails to complete a required personal finance course after filing a Chapter 13, they will be ineligible for their discharge. Roughly 25-40% of Chapter 13 debts receive a discharge. [14]
Chapter 13 plans are usually three to five years in length and may not exceed five years. Chapter 13 is in contrast to the purpose of Chapter 7, which does not provide for a plan of reorganization, but provides for the discharge of certain debt and the liquidation of non-exempt property. A Chapter 13 plan may be looked at as a form of debt ...
Filing Chapter 13 immediately after Chapter 7 is also referred to as Chapter 20 bankruptcy. You won’t receive a discharge when filing Chapter 20 since you aren’t waiting the full four years.
Dismissal: Officers charged with offences under the Military Discipline Legislation. In exceptional cases, officers may be "dismissed with disgrace". [13] Compassionate discharge: There are several types of compassionate discharges. Such a discharge is granted for Ratings who seek a discharge due to extenuating personal circumstances. [14]
Chapter 7. Chapter 13. Conventional. 4 years. 2 years after discharge or 4 years after dismissal. FHA. 2 years. 1 year. VA. 2 years. 1 year. USDA. 3 years. 1 year
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