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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 ...
For example, if a debtor has multiple bankruptcy filings within a short timeframe or has had a previous bankruptcy case dismissed due to fraud or abuse of the system, the bankruptcy court may deny ...
A Chapter 11 bankruptcy will result in one of three outcomes for the debtor: reorganization, conversion to Chapter 7 bankruptcy, or dismissal. [4] In order for a Chapter 11 debtor to reorganize, the debtor must file (and the court must confirm) a plan of reorganization.
Filing for bankruptcy is a significant step that can offer relief from overwhelming debt, but it’s not without complexities. ... added costs or even dismissal of the case. For many, the guidance ...
In United States bankruptcy law, an automatic stay is an automatic injunction that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy. Under section 362 of the United States Bankruptcy Code, [1] the stay begins at the moment the bankruptcy petition is filed.
Chapter 13 bankruptcy, also known as reorganization bankruptcy, is a legal process that allows you to restructure debt to be more manageable. As part of the process, you will be required to pay ...