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Becuase the various types of BKs are broken down into chapters in the BK code
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∙ 13y ago
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Can they repo your car if there is a open chapter 7 bankruptcy?
NO collection activity may occur legally during bankruptcy proceedings.
Will chapter 7 bankruptcy stop a foreclosure in California?
Yes, temporarily. Filing for bankruptcy protects your from collection actions taken by your creditors, including foreclosure during the proceedings.
What are the types of bankruptcy?
Bankruptcy is a court proceeding under a federal statute called the "Bankruptcy Code". The Bankruptcy Code allows persons or other entities in financial distress relief from some or all of that person's debt. Bankruptcies are administered through a separate federal court called the United States Bankruptcy Court. There are several types of bankruptcies. For individuals, the two main types of bankruptcy filings are cases under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 cases are also referred to as "liquidation" cases. Chapter 13 cases are commonly referred to as "debt adjustment" or "wage earner" cases. Individuals can also be eligible for Chapter 11 reorganization, but Chapter 11 is normally used by debtors in business or debtors with extremely high amounts of debt. Farmers can also file a separate type of bankruptcy available only to farmers under Chapter 12 of the Bankruptcy Code. The word "Chapter" is simply a reference to a chapter number in the Bankruptcy Code. Bankruptcy is a court proceeding under a federal statute called the "Bankruptcy Code". The Bankruptcy Code allows persons or other entities in financial distress relief from some or all of that person's debt. Bankruptcies are administered through a separate federal court called the United States Bankruptcy Court. There are several types of bankruptcies. For individuals, the two main types of bankruptcy filings are cases under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 cases are also referred to as "liquidation" cases. Chapter 13 cases are commonly referred to as "debt adjustment" or "wage earner" cases. Individuals can also be eligible for Chapter 11 reorganization, but Chapter 11 is normally used by debtors in business or debtors with extremely high amounts of debt. Farmers can also file a separate type of bankruptcy available only to farmers under Chapter 12 of the Bankruptcy Code. The word "Chapter" is simply a reference to a chapter number in the Bankruptcy Code.
Can you move to another state while in Chapter 13?
Debtors under Chapter 13 Bankruptcy can move to another state. However, they must be available for court proceedings and other legal meetings.
How can bankruptcy help stop a foreclosure?
Filing for Chapter 7 bankruptcy forces all of your creditors to stop harassing you, as all proceedings are temporary put to a halt while the bankruptcy is processed. However, you typically have to take the initiative and show proof of your bankruptcy to the bank for them to stop harassing you.
How can I stop foreclosure proceedings on my home?
There are two ways to stop foreclosure proceedings. Come to an agreement with the bank and make a substantial payment. For many this is not an option, so the only other resort is filing Chapter 11 bankruptcy.
Who can file a proof of claim in any bankruptcy proceedings?
In a chapter 7, with a no-asset notice, no claim can be filed. In a chapter 13, all creditors should file a proof of claim within the time period provided.
What specifically does a chapter 7 lawyer provide services in?
Chapter 7 in terms of law refers to when a person or person is filing for a certain and specific type of bankruptcy that is then referred to and known as Chapter 7.
Can bankruptcy be removed from your credit report if you filed for Chapter 7 but did not complete the proceedings?
No. A bankruptcy becomes a public record as soon as it is filed. Its the same as any other type of lawsuit. Even if they are dismissed, they will still show up when searching for your name. The fact that a bankruptcy was not completed does not negate the fact that it was filed.
What happens if a creditor is disputing a debt to be included in a chapter 13 is filed?
contact them and ask them why...if it's a credit card...or basically anything but student loans they have to accept the terms of the bankruptcy. get in touch with the lawyer who did your filings for your bankruptcy proceedings and they should get it taken care of.
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
Yes.
In chapter 13 bankruptcy do you have to pay your unsecured creditors 100 percent?
NO. Bankruptcy proceedings are used because you are not capable of paying 100% of your debts (otherwise your bankruptcy claim will be rejected by the court), and unsecured debts have greater chance of a lower amount of directed settlement from the bankruptcy trustee's work than secured debts (or certain excepted unsecured debts). Note that there is an excellent perspective book both about Chapter 7 and Chapter 13 bankruptcy: "The New Bankruptcy, will it work for You?" 3rd edition (published in 2009 by Nolo), by Stephen Elias (a bankruptcy attorney). In the public library system for Colorado Springs, I found it at 346.078 E42N (Dewey decimal system).
