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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 ...
A bankruptcy attorney handles a lot of details that are important to your case, such as: Protect from inaccuracy. An attorney will know what forms you need to fill out to make sure you don’t ...
While bankruptcy cases are always filed in United States Bankruptcy Court (an adjunct to the U.S. District Courts), bankruptcy cases, particularly with respect to the validity of claims and exemptions, are often dependent upon State law. [41] A Bankruptcy Exemption defines the property a debtor may retain and preserve through bankruptcy.
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 ...
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.
Pella developers Jeffrey and Tina Ewing filed for bankruptcy, but did not provide needed financial documents, so a judge dismissed their case.
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]
The case was dismissed because the bankruptcy court concluded that Bridgeport, although financially distressed, was not insolvent within the meaning of the eligibility criteria of Chapter 9. Denied by courts [32] Lipscomb, Alabama: City 1991 2,800 Completed [33] North Bonneville, Washington: City 1991 400 Completed [34] North Courtland, Alabama ...