Read More:Chapter 13 Bankruptcy Explained Paperwork and Process When you are ready to file, you must complete a bankruptcy petition and file it with the appropriate federal bankruptcy court, either the Eastern or Western District of Washington. Your petition should include the forms documenting your ...
Chapter 13 bankruptcy is designed to serve as a flexible vehicle for the repayment of part or all of the allowed claims of the San Diego debtor. In an effort to preserve this flexibility Chapter 13 bankruptcy established only a minimum number of mandatory plan provisions. Yet the Bankruptcy Co...
Depending on your business's legal structure and assets, you may be eligible to file for either aChapter 7,Chapter 11orChapter 13bankruptcy. Here is a basic overview of each type: Chapter 7bankruptcy is for businesses that intend to shut down and liquidate their assets to pay off debts. Ch...
Debtors are eligible to file for Chapter 7 bankruptcy if they pass the North Carolina bankruptcy means test. This test compares an individual's income with the median of a comparable household in the state. Generally, those with a yearly income that is less than the median North Carolina incom...
Consider Also:What Happens If You Don't File Taxes? Choosing Chapter 7 or 13 Many people with low incomes qualify for a Chapter 7 bankruptcy, because they cannot make installment payments that Chapter 13 requires. Because of this, low-income filers usually do not have to deal with ...
with several thousand dollars in loans. The collection agent convinced me that my wages would be garnished and the former school's owners would take everything else in court. I was genuinely scared, so I sought out a bankruptcy attorney in town and he agreed to help me file Chapter 13. ...
A Chapter 13 bankruptcy offers you the ability to pay off debts over a three- to five-year period. After filing for Chapter 13 bankruptcy you reach a juncture at which canceling or terminating the case is advisable from your perspective. A specific process under the U.S. Bankruptcy Code per...
Bankruptcy is a status in which a court, by way of a judicial process, deems a person unable to pay their debts. There are two kinds of personal bankruptcy for which you can file: Chapter 7 and chapter 13 bankruptcy. What’s the difference between chapter 7 and chapter 13 bankruptcy fil...
How to File for Chapter 7 BankruptcyElias Stephen, Renauer AlbinNOLOElias, S., Renauer, A., Leonard, R., Michon, K., "How to file for Chapter 7 Bankruptcy", 11th edition, Nolo Press, 2004.
Chapter 13 is a type of bankruptcy proceeding in which debtors agree to areorganizationof their financial obligations under the supervision of a court. Individuals and married couples, even if self-employed or operating an unincorporated business, are eligible to file for Chapter 13 bankruptcy.1Here...