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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 ...
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 ...
If your case is dismissed this way, it may be possible to file for another Chapter 13 bankruptcy. Before doing so, make sure your finances have improved enough that you will be able to keep up ...
If the results of the means test show no disposable income (or in some cases a very small amount) then the individual qualifies for Chapter 7 relief. An individual who fails the means test will have their Chapter 7 case dismissed, or may have to convert the case to a Chapter 13 bankruptcy.
Pella developers Jeffrey and Tina Ewing filed for bankruptcy, but did not provide needed financial documents, so a judge dismissed their case.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 has clarified this area of concern by making changes to the U.S. Bankruptcy Code that include, along with many other reforms, language imposing a means test for Chapter 7 cases.
“Dismissal” occurs when you cannot complete the repayment plan and the case is, therefore, dismissed by the court — essentially meaning the bankruptcy was not successful.
A bankruptcy discharge is a court order that releases an individual or business from specific debts and obligations they owe to creditors. In other words, it's a legal process that eliminates the debtor's liability to pay certain types of debts they owe before filing the bankruptcy case.
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