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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 ...
Creditworthiness and the likelihood of receiving a Chapter 7 discharge are some of the issues to be considered in determining whether to file bankruptcy. The effect of bankruptcy on creditworthiness in many cases might not be significant, because by the time many debtors are ready to file for bankruptcy, their credit score is already extremely ...
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
If the bankruptcy case is dismissed, Freeman and Moss could refocus their efforts to collect on the payment back to Washington, D.C., where they won their lawsuit, and avoid paying more legal fees ...
The case has been roiled by creditors' allegations that Giuliani is flouting bankruptcy laws and potentially hiding assets. A dismissal would end his pursuit of bankruptcy protection, but it
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.
A federal judge has officially dismissed Rudy Giuliani’s bankruptcy case after the cash-strapped former New York City mayor and his creditors were deadlocked over his finances and money he owed ...