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When you file for Chapter 7 or Chapter 13 bankruptcy, you will need to attend credit counseling. Your credit counselor will go over your options and help create a plan. Your credit counselor will ...
Court filing fees: The standard filing fee for a Chapter 13 bankruptcy is $313. Post-filing debtor education: A debtor education course is also mandatory after filing, and fees generally range ...
By contrast, you usually keep your property when filing for Chapter 13 bankruptcy. To qualify, you need to earn a regular income and agree to a repayment plan approved by the court.
Bankruptcy exemptions are available only to individuals filing bankruptcy. [43] There are two alternative systems that can be used to exempt property from a bankruptcy estate, federal exemptions [44] (available in some states but not all), and state exemptions (which vary widely between states). For example, Maryland and Virginia, which are ...
An individual who is badly in debt can typically file for bankruptcy either under Chapter 7 (liquidation, or straight bankruptcy) or Chapter 13 (reorganization).In some cases, options may also include Chapter 12 (family farmer reorganization) and Chapter 11 (reorganization of a company, or an individual debtor whose debts exceed the limits for a Chapter 13 filing). [2]
In December 2010, Washington Park briefly emerged from bankruptcy and then filed a new petition for bankruptcy which was rejected by the judge, who stated there was no Illinois state law enabling a municipality to file a Chapter 9 bankruptcy petition. Denied by courts [59] [60] Las Vegas Monorail Company, Las Vegas Private company 2010
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