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The court could dismiss your case or change it to Chapter 7 if you’re late on your Chapter 13 payment. You can request a payment reduction or amendment if you’ve faced an unexpected financial ...
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 ...
Filing for bankruptcy, on the other hand, is a legal process that involves listing your debts and assets and finding a way to resolve the debts. Default and bankruptcy usually go hand in hand.
In finance, default is failure to meet the legal obligations (or conditions) of a loan, [1] for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
Bankruptcy is a last resort for people with debts they cannot pay off through other means. That is one reason the credit penalty is so severe — if you can avoid bankruptcy, it is usually in your ...
a date by which payment of the debt is expected (a minimum of seven days) a request for any disputed issues to be put in writing; The assignment of the claim against the debt shall not be effective if the assigned debt is not real, legitimate, receivable arises from a crime or the debtor is a public institution, political party or homeless ...