Chapter 13 Bankruptcy: A Matter of Definition

The officials were briefed on the investigation but not authorized to discuss the matter. for bankruptcy in 2014 and the case was dismissed and closed Monday. attorney andrew bisom, who represented.

Seeking Chapter 13 protection allows you to keep all your property. It simply extends the amount of time you have to repay what you owe after the bankruptcy court issues its ruling. It is possible to file a Chapter 13 bankruptcy after a Chapter 7 is completed, allowing you to seek a reduction in whatever debts remain from a Chapter 7 discharge.

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Chapter 11 bankruptcy is available to individuals but primarily is used for large business reorganizations. Chapter 12 bankruptcy, which is similar to Chapter 13 bankruptcy, addresses the unique problems faced by family farmers and family fishermen. As a practical matter, almost all consumer cases are covered under Chapter 7 or Chapter 13 of.

For the purposes of filing personal bankruptcy, it does not matter if your business. sold to satisfy your debts in a Chapter 7 filing or the value included in the available funds to repay creditors.

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Bankruptcy definition is – the quality or state of being bankrupt. How to use bankruptcy in a sentence.. Chapter 13 Chapter 13, also called a wage-earner’s plan, It’s not always a matter of time. The Good, The Bad, & The Semantically Imprecise – 6/28/19.

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The chapter of the Bankruptcy Code providing for adjustment of debts of a "family farmer," or a "family fisherman" as those terms are defined in the Bankruptcy Code. chapter 13 The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income.

If a Chapter 13 plan is successfully completed, the interest and penalty charges are void and collection is not sought from the petitioner. However, if the case is dismissed, all money paid under a Chapter 13 bankruptcy may be applied toward interest and penalties; and therefore, petitioners may find themselves still owing a large balance to creditors.

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