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Can you include alimony in Chapter 7 bankruptcy?
Alimony and child support is considered to be non-dischargeable.
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Answer Yes, all debts and assets must be included in the bankruptcy filing. If a mistake is made and some debts and/or assets are not reported, the filer sh…ould contact the BK attorney or the trustee immediately. Deliberately ommitting information on a bankruptcy filing are grounds for dismissal. In addition when information especially assets is deliberately withheld the person(s) can be charged with bankruptcy fraud which is a federal crime and if convicted can be fined and/or imprisoned.
How do I convert chapter 13 bankruptcy to chapter 7 myself What should be included in the motion to convert letter?
Converting Chapter 13 BK to a Chapter 7 . The debtor (or the debtor's attorney) can do this with a simple filing - usually an "Ex Parte Motion to Convert Chapter 13 to a Ch…apter 7." Providing the debtor's bankruptcy has not previously been converted already, the debtor/debtor attorney can do this without the permission or advance permission of either the bankruptcy judge or the Chapter 13 trustee that is managing the bankruptcy up until that point (hence, the "Ex Parte" part of the document).. There are notice requirements - check with your local bankruptcy district to see who this needs to be mailed out to. Also, there is usually a small fee involved (it usually involves the debtor paying the difference in cost between a Chapter 13 and a Chapter 7 filing, but may be different - again, check with your local bankruptcy court).. The debtor will be required to go through another 341 creditor's meeting with the new Chapter 7 trustee.
No. Penalties are not able to be discharged - although you must list them.
You can: 1) Hire a lawyer 2) File without any assistance by finding the right forms and regulations for your state and district you live in...or 3) Hire a bankruptcy petition …preparer to simply prepare your petition for you! Bankruptcy, in fact any legal process, any expert process..is not something one should do for themselves...even experts and well experienced or skilled people don't...and as you can ask a question like this...it just goes to show your likely entirely incompetent to do so even if there was an answer for "how" (that obviously doesn't involve virtually all the 10,000s of pages of legal writings and court operations that may or may not be needed, and change, for each case! There are going to be many, many, many more complicated questions to be answered, actions that must be done to get the best result, specific requirements. documents, etc....to answer fully and accurately...all much more difficult than figuring out a logical place to start a "how to...do a legal thing"...is the legal courthouse...in this case one of those in the entire court system that deals only with this type of case...The US Federal Bankruptcy Court for your District. Addressing the underlying part of your question - it is realistic to think everyone filing BK is in a dire financial position already without easy ways to pay for things, especially attorneys. That said, many lawyers keep their fees very reasonable for this, and there are provisions to assure administrative costs involved, like attorneys, are able to be paid as part of the process. Before you go any further, you should consult at least 2 attornies who practice in this field to get more info. These initial consults are almost always available for free. You can always file and administer it yourself, with only modest filing & court fee's, that are even sometimes able to be waived if you can meet certain qualifications, and again, file everything properly, etc. However, any court process is complex and can have any number of special issues and possible results. To someone who is unfamilar with it, and especially someone who may not be very financially conversant and able to easily understand the things being asked and where/how to get required documentation, etc. To expect to get the best result or even hoped for one, (in fact as seen from many of the Qs and beliefs expressed in Qs here, to not make matters even worse...even criminally so, or find that something was missed that becomes a problem years later), is simply unrealistic. I am not one, and may not particularly like them, but something as important as this to your future (not some purchase just because you want it), is exactly why and when an attorney (or expertise) is needed. As you look to get a fresh start and handle financial things differently, the purchase of expertise to accomplish it is not the time or place to DIY. == The Steps For Filing A Chapter 7 Bankruptcy: 1) You meet with an attorney (or can self file, which probably isn't recommended, especially if your starting with having to ask here. However, perhaps any of the "do it yourself" legal kits would be a viable alternative if you really want to go it alone.) 2) You submit a list of creditors, with addresses, types of debt and amounts owed. You'll also answer questions and provide information about your income and assets. 3) If after review you decide to go ahead and file, and determine which Chapter is best, prepare and sign all of the paperwork. 4) The attorney's office, or you, files the case. (Legal cases and procedures are exacting and frequently require lots of specific info., especially for someone not experineced in it). 5) You will attend a First Meeting of Creditors (341 meeting) where you will be asked questions about your case. 6) You will start to receive correspondence about the progress and may need to respond or instructions in case you have to reappear. Sometimes if you are reaffirming on a debt (for instance, keeping your car in a Chapter 7 and continuing to pay on it) you will be required to attend a Reaffirmation hearing. 7) If all is well, the debt will be discharged and the case will be closed. Many attorneys will give you a free consultation, but it is advisable to call and ask them instead of assuming that you won't be charged for the first meeting. The most important thing to keep in mind if you do file bankruptcy is that it is vital to keep your credit clean and your bills paid on time once the case has been closed and the debts discharged. I'd suggest that you consult with a local attorney for all the facts, because only an attorney can advise you on all of the details of the bankruptcy process and whether it is a viable option for you. You get the forms and instructions and read them carefully and understand everything. All the forms are available free from the bankruptcy court website for your jurisdiction. Some states have only one bankruptcy court for the state, some have two or three. Google your state and US Bankruptcy court. Read the rules, which you will also find on the website. Complete the forms. Most people do not understand exemptions and do not claim them, or do not claim them properly. The second biggest mistake self-filers make is to not complete the Statement of Intention, which only matters if you have a motor vehicle loan or a mortgage or home equity loan. The third mistake is not listing all - ALL - creditors and preparing a creditor mailing list in proper form. Forms and instructions are also available at several websites, usually belonging to lawyers but may not be free.
Any person of legal age or legal entity (corporation, partnership, LLC, etc.) can file for c. 7. Whether there is any need or point in filing depends on other facts.
There are both advantages and disadvantages to filing for bankruptcy. Chapter 7 is often known as debt liquidation bankruptcy and is a good options for many individuals are co…uples that are in dire financial straits. As soon as a debtor files for bankruptcy, there is an automatic stay and most creditors must stop their collection efforts. Thus, the debtor can begin rebuilding his credit; financially-speaking, the debtor can start over. It is true that filing for bankruptcy ruins a debtor's credit from a number of years and may cause embarrassment. However, incurring more debt and facing the harassing phone calls, letters and potential lawsuits from creditors can have the same effect. Filing for bankruptcy will allow many debtors to get started sooner on rebuilding their credit in peace.
Answer No child and/or spousal support are not dischargeable in a chapter 7 BK. Answer It is my understanding that child support, student loans,… taxes owed, and things along that line cannot be included in a bankruptcy.
Items obtained through fraud, child support, court ordered restituion and federal/state taxes (off the top of my head). ALL debts must be listed because you are swearing that …you have listed all debts. If there are assets in the case, some of your debts will be paid, therefore, the Courts need to know of ALL of your debts, so you list EVERYTHING. However, some debts are non-dischargable such as: Items obtained through fraud; Domestic Support Obligations; Taxes that are less than 3 years old; Student Loans; Debts incurred in the process of a crime (such as a DUI accident). It should also be noted that there is a 90 day presumptive period. Any debt incurred within 90 days prior to filing a Bankruptcy is presumptively fraudelent. Any debt incurred with the intention of filing Bankruptcy or without intention of repayment is presumed fraudulent.
ALL assets and ALL liabilities are included. Each are given different priority. Taxes are a liability. They are included and given their priority.
As asked and answered at least a thousand times here before....and because of the system provided to you already.....I gather you want to ignore it as you want to… ignore the need to do things differently, if you don't want to be considered bankruptt in more than just smarts and financial matters....... Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
It must be. EVERYTHING you owe and EVERYTHING you own is included in the BK. They are given different priorities by the Court (some of either may be exempt)....but you …do not pick and chose what you include. Basically all of your assets are used to pay your debts. You will be swearing, in writing, to including everything and honestly providing info on your entire financial status to the court. Not doing so can be interpreted as criminal fraud...to a judge/court...not something taken lightly.
not at the same time, and you'll have to wait a certain period of time after being dismissed/discharged from one before filing the other.
Chapter 7 is called Liquidation Under the Bankruptcy Code and is the chapter of the Bankruptcy Code providing for "liquidation,", the sale of a debtor's nonexempt property and… the distribution of the proceeds to creditors.
A basic, rough primer: BK is always done under FEDERAL Laws, in a Federal Bankrutpcy Court. Basically State makes little difference. (Yes the BK Courts operating in… certain areas have certain special exemptions and such, minor in the overall, generally intended to make things adhere to the local laws and customs better). In a personal bankruptcy, YOU go bankrupt. Not a debt, not a loan...not a car...not a this or that. ALL of your assets, of all types, MUST be disclosed and reported in BK, and ALL of your liabilities/debts must be too. No exceptions, no picking and choosing. They are all, always involved in some way. The court will then order each of them in priorities according to the laws. Some things may be exempt from use or discharge (like your personal furniture and retirement accounts are exempt and child support cannot be discharged) - and the rest may be used. With one to pay the other. (All possible creditors are contacted and asked to say what they are owed....you may be required to even take advertisments out to make sure everyone is notified). Any deal you've done for several years is open to scruitiny and review. The court can reverse them, take them out of the BK, or even have them prosecuted as trying to defraud your creditors. (So, no you can't sell your boat to your brother and then declare BK). Debts secured by an asset (say a car) have first call or right to the money received from that asset. If it isn't enough to pay the debt, the remainder of that debt becomes a general or unsecured claim against the BK., and has a chance to payment on that level too (albeit a lower priority than those who have yet to receive anything). The end/remaining amount that can't be satisfied is generally discharged by the court...meaning you no longer owe it. You get a fresh basically debt free start....many of those you owe don't get paid what they had expected and relied on, if anything. There are many other considerations too. BK will severly hurt your ability to get credit for a very long time for example. It is on your credit report for at least 10 years...and employers refer to that too, as do landlords and more. Many do not trust people with bankruptcies in their past, especially in the last few years. Many more things. Not disclosing all items is frequently tried and easily discovered, in which case - as you are swearing under oath to the court you included all info - your case is dismissed, and regularly, fraud charges are pursued. (Courts don't take to being lied to well). Many seem to fall into the trap thinking that they can trick or change or especially shortcut the system, or want to believe what they wrongly understand overrides things (like I don't have to report that asset because it is exempt). It simply ain't going to happen. The courts, Judges, laws, bankers, all those zillions of attornies, etc, have been through this thousands of times for many, many years. The processes are fairly well worked through and prepared for tricks and games. It is unlikely you would discover one that hasn't been tried a zillion times before! The Cos that claim they can change your record, or make magic happen (either before or after BK), are scams, and getting caught doing something unsavory (intentional or not), other than screwing up your bankruptcy filing, is frequently considered and persued criminally. (Think your financial troubles are bad, try adding in criminal ones). The legal process and system is demanding even for those experienced with it. Many of your creditors will have an attorney to assure they get as much as possible, even groups of lawyers, who specialize only in bankruptcy. Simply you should/better/need to have one too
Bankruptcy anywhere is a Federal matter, in a Federal court. Except for minor differences in the way certain Federal Districts view things, for administrative ease mainl…y, it is the same everywhere. Chapter 7 is a dissolution.
You can dismiss a bankruptcy. (Motion to dismiss) However, you will no longer be under the protection of the bankruptcy courts, will still owe everything, and will still… have a bankruptcy on your credit report. You may also be prevented from filing again for quite some time. Talk to an attorney about your individual circumstances and how your local Bankruptcy court handles these situations.
If you include your house in a bankruptcy chapter 7 how will this show on your credit report Will it show included in bankruptcy or as a separate foreclosure?
If your home loan is included in your bankruptcy, the code describing your repayment behavior on your credit report for this loan will change. If the bank forecloses on your …home, the code describing your repayment behavior on your credit report for this loan will change. The loan will have one coded description of your repayment behavior. Credit Agencies only care about your repayment habits, not which mechanism cost you your home. There is no separate report. Your credit is going to be BAD for many years. Whether the house was part of the bankruptcy or whether it was taken in a foreclosure action will not matter (it's not like one is better than the other).