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generally no. the only type of money that can be put into a 401k are payroll deductions, roll ins from other 401k's, traditional or Rollover IRA's and pensions. If the stock options are in one of these plans, call your plans service center to get your plans rules and procedures. It is rare for stock options to be in one of these plans. Also stock options have no real value until you exercise them (buy the stock).

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โˆ™ 2007-01-28 18:53:54
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Q: Can employee stock options be converted to a 401K without bad faith before filing a Chapter 7 Bankruptcy?
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How would you get a chapter 7 bankruptcy removed after 7 years?

A Chapter 7 bankruptcy will remain on the credit report for the requrired ten (10) years. There are not options for having it expunged sooner.

How much income is too much for chapter 7?

Income has little to no determination on one's ability to file for bankruptcy. It's the debt to income ratio that most bankruptcy courts look for. Consult a bankruptcy attorney; there may be other options that will not impact your credit as harshly as bankruptcy.

How can you convert a chapter 13 bankruptcy to a chapter 7?

Before the new bankrupcy laws took affect it was a fairly simple matter to conver from a "13" to a "7"; now it is extremely difficult to have such action approved by the bankruptcy court. The best options are to consult with the attorney who handled the BK or contact the chapter 13 trustee for assistance.

Where can one find an attorney to defend a Chapter 11 Bankruptcy case?

Filing a Chapter 11 Bankruptcy is a complex process. Finding a qualified attorney who is compassionate and understanding is an important first step. Compassion and understanding is a necessary requisite for such an attorney because a person files a chapter 11 bankruptcy because he/she has basically run out of any financial options like further bank loans. Checking out genuine review sites for bankruptcy attorneys on Google is perhaps a good place to start.

What options do you have in a chapter 13 if your case was dismissed due to nonpayment?

Your options will vary from case to case. You might be eligible to refile another Chapter 13. You might consider filing a Chapter 7. You might not even need to be in Chapter 13 anymore. You need to consult a local bankruptcy about the specific facts of your case. You might be able to convert from a 13 to a 7 but this can only be done one time. i.e 13 to a 7, but cannot reconvert back to 13. from experience, make sure you have an attorney that is skilled in bankruptcy law and has practiced it for many years.

Options when payor cannot afford chapter 13 and too soon for chapter 7?

Good question. It is always a good idea to be fully aware of the bankruptcy system and the effect it will have on your life before filing. Filing for bankruptcy is the best remedy for many debt problems. However, there are other courses of action that may be better in certain situations, allowing you to avoid bankruptcy completely. One benefit of hiring a bankruptcy attorney is that doing so might actually help keep you out of bankruptcy court.

What options are available to you as a small business owner filing for Chapter 7 Bankruptcy through a registered attorney?

The options available to a small business owner would vary in each situation. With a lawyer the business owner can go through each of the options and choose the best one for their situation.

The Two Major Corporate Bankruptcy Filings?

Just like people, sometimes a corporation accrues more debt than it actually has the ability to pay back. When this occurs, a corporation sometimes declares bankruptcy. However, corporations do not always use the same kinds of bankruptcy that individuals use. The two most common corporate bankruptcy filings are Chapter 7 bankruptcy and Chapter 11 bankruptcy. Chapter 7, which can also be used by individuals, is for businesses that are giving up entirely. If a company declares Chapter 7 bankruptcy, that company will cease operations immediately. At that point, legal ownership of the company is transferred to the bankruptcy court. When ownership of the company is transferred to the court, a lawyer will be appointed by the court to oversee the rest of the bankruptcy. This will include overseeing the closing of that corporation's facilities. It will also include a liquidation of the company's assets. The assets will be sold, and the proceeds of those sales will be used to pay back creditors that are owed money by the company. Chapter 11 bankruptcy, not used by individuals, is a bit different. Instead of the business being closed, the business is allowed operate normally during the bankruptcy. The goal of a Chapter 11 bankruptcy is the restructuring of the corporation so it can be profitable once again. There is also another potential benefit from this kind of corporate bankruptcy. All or a good portion of the company's previous debts and other obligations may be absolved. This is due to the fact that the goal of Chapter 11 bankruptcy is reorganization. Debt or other obligations that would force a company to go out of business may be removed to help that occur. Obligations other than debt that may be set aside by the court can vary. Usually this includes things such as agreements with unions on employee pensions and benefits, leases for real estate and other expensive contracts. However, even if a corporation attempts to enter Chapter 11 bankruptcy, there is still a risk that the company may be liquidated as part of a Chapter 7 bankruptcy. This can occur if a plan is not agreed upon by the corporation, its creditors and the court. If this happens, the only remaining options are either entering Chapter 7 or returning back to the company's pre-bankruptcy state. Since the company entered bankruptcy because survival without reorganization was unlikely, both choices are rather undesirable.

If your chapter 7 bankruptcy was discharged six weeks ago what are your options for a refinance?

You can quite possibly refinance up to 80 percent of the value of your home and get some cashout with a decent rate.

Where can I learn about employee stock options?

An excellent resource for learning about employee stock options is through The National Center for Employee Ownership at This is a nonprofit organization that provides objective information relating to all aspects of employee stock options.

How can one learn more about refinancing bankruptcy?

Most who have filed bankruptcy doesn't know about the process. It's not uncommon that debtors are unaware of their options in a chapter 13 because they rely on their attorney, who has a fiduciary relationship with the debtor. If one want to know more about refinancing, then contact an attorney.

Should a Christian file bankruptcy?

Filing bankruptcy has no affiliation with religion. If filing bankruptcy is he best financial options available, then you should do it.

What can you do if you just recently had a chapter 7 bankruptcy then soon after had your car repossessed?

Usually a car you are still driving cannot be included in a chapter 7 unless it is turned back into the finance company because it is considered an asset that, if sold, could help pay off your other debts. If you do not include it in the bankruptcy, you are under the same obligation to make payments and if you don't then the car gets repo'd. If you file for bankruptcy the first thing I would do is talk to your lawyer about the options open to you if you want to keep your car.

What is the purpose of free stock options?

Free stock options are often in the form of employee stock options, where an employee is offered stock in the company as a form of non-monetary compensation.

How to File for Bankruptcy?

Filing Personal BankruptcyIf you are planning to file bankruptcy, you will have options for completing the process. Do it yourself, or hire an attorney to do it for you. You may also be able to simply hire a document preparer, who is not a licensed attorney, to prepare the documents for you. The cost of that would probably be less than the cost of hiring an attorney, although a document preparer also will not be qualified to render advice, and should not.Decide on the Proper Bankruptcy Chapter to File UnderBefore filing bankruptcy, you must decide on the type of bankruptcy to file. There are two types for consumers, being Chapter 7 and Chapter 13. They are distinctly different from one another, and will require different filing and different handling. Chapter 7 bankruptcy is known as liquidation bankruptcy, with the import of that phrase being that in exchange for a release from your debts, you agree to give up your property. Release from debts through bankruptcy is called discharge, and there actually are certain types of debts which cannot be discharged in Chapter 7 bankruptcy. These include student loans, taxes, and domestic support obligations, including child support and alimony. Other nondischargeable debts include fines and court fees. Most people filing Chapter 7, however, are not confronted by nondischargeable debts, and all of their debts are wiped away. This includes credit cards, medical bills, and the personal liability side of secured debts like car loans.Chapter 13 vs. Chapter 7Debts are treated differently in Chapter 13, with that Chapter providing a broader discharge. Chapter 13 bankruptcy is essentially favored by the law, because in Chapter 13, the debtor is making an attempt to repay some or even all debts.Do-it-Yourself Bankrtupcy Filing in Chapter 7Filing Chapter 7 bankruptcy is actually a fairly simple process, requiring submission of a set of documents, payment of a fee, and generally only one appearance at Court. Actually, in Chapter 7 bankruptcy you generally do not appear before a judge, but instead simply attend a meeting which is presided over by a court official known as the trustee. The trustee administers your case from start to finish, and will examine you at the meeting concerning statements made in your filing. In truth, the examination is rote, with the trustee asking nearly all filers the same simple questions. As for property given up in Chapter 7, this will be only so-called non-exempt property, which will not include your home, your retirement account, your clothing and personal items, or even your car in most cases. If you are considering Chapter 7, you can safely assume that you can complete the process with no assistance. There are kits available at bookstores that will provide all required forms. Bankruptcy is a federal process, and forms are standardized nationwide.Using an Attorney in Chapter 13Chapter 13 bankruptcy is eminently more complex, providing more protection for a debtor, but in exchange for a debtor's commitment to repayment of debts under a plan. The plan must be approved by the court, and it is detailed in its contents. Chapter 13 bankruptcy is a common recourse for people facing foreclosure on their homes, as that bankruptcy will allow them to repay arrearages and compel a mortgagor to accept that repayment. If you choose to file Chapter 13, you must expect to need an attorney to represent you in the process. Chapter 13 is far too complicated for a layperson to handle.

What happens when you can't make your chapter 13 monthly payments anymore?

You can either convert to a c. 7 or wait for the c. 13 trustee to move to dismiss your case. You should discuss these options with an experienced bankruptcy lawyer.

What are the differences between bankruptcy options?

Bankruptcy is a federal court process. It is designed to help consumers and businesses eliminate debt or repay debts under the protection of the bankruptcy court. There are two categories of bankruptcy, "liquidation" or "reorganization":Liquidation bankruptcy (or Chapter 7) - a consumer or business asks the court to discharge the debts owed (some debts cannot be discharged). In exchange, the business's assets or the consumer's property is sold (liquidated) and the proceeds are used to pay off the creditors.Reorganization bankruptcy (chapter 13) - involves filing a plan with the bankruptcy court suggesting how you will repay your debt. Some debts must be repaid in full while others require only a percentage or nothing at all.

Why file for chapter 7 bankruptcy?

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 couples 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.

What is some of the best bankruptcy advice?

"The best bankruptcy advice would be to consult with a bankruptcy lawyer, who can advise you of all your options. Talking with a debt consolidation company can also be very helpful."

What is bankruptcy and what are the alternatives to bankruptcy?

Bankruptcy is the status when an individual is already overwhelmed with debts. Filing for bankruptcy helps an individual to discharge certain types of debts thus allowing the person to have a fresh financial start. For individuals there are 2 types of personal bankruptcy: Chapter 7 and Chapter 13. Chapter 7 is where an individual's assets are liquidated by a trustee to pay off debtors while in Chapter 13, the debtor draws up a payment plan to settle the debts he/she owes within a period of 3 to 5 years. In the event that the individual does not want to file for bankruptcy just yet there are options like out-of-court settlement, debt consolidation and debt counseling. Legal Disclaimer: The answer above should not be relied upon as legal advice. The information provided above is based on insufficient facts and only speaks to a general opinion based on those insufficient facts. No warranty is provided that the answer is correct. No attorney-client relationship has been formed with me until a signed written contract is complete. For an official opinion, it is advised you seek legal counsel.

What are my options for debt relief besides filing bankruptcy?

Instead of filing bankruptcy, you can contact your lenders and negotiate settlements with them. If they are aware that you are facing bankruptcy, they often will settle for amounts less than what you owe them.

What are some appropriate employee appreciation gifts?

There is a variety of options for employee appreciation gifts. Popular options might be customized stationary, paperweights, or desk clocks. To browse through more ideas, look at for options.

What should a person know about bancruptcy?

There are several things one must know about bankruptcy. The most important include the six basic types of bankruptcy options and at what point one should file for bankruptcy.

What has the author Judith S Ruud written?

Judith S. Ruud has written: 'Accounting for employee stock options' -- subject(s): Accounting, Employee stock options

Your exwife filed bankruptcy How do you get the federal bankruptcy to excuse the mobile home debit you co-signed for?

Cosigning on a debt for anyone, regardless of relationship status, is very tricky business and should never be considered lightly. You may have a great relationship with the person who needs your help at the time of signing but there is no way of knowing how things will change. Cosigning for any type of loan, even for a family member, means you are undertaking a huge risk. The answer to this question depends largely on the type of bankruptcy filing your ex-wife decides to make. Her options are either Chapter 7 or Chapter 13. If your ex-wife decides to file for chapter 13 bankruptcy then your interests as cosigner will be protected. Under a chapter 13 filing, also known as a wage earners bankruptcy, your wife will be required to make arrangements for the repayment of parts of her debt. Her creditors will agree to these arrangements and once the agreed upon payments are made her account with the creditor will be closed, regardless of what amount of the total original balance is left over. Your problems as a cosigner will emerge if she decides to file for chapter 7 bankruptcy. Under chapter 7 bankruptcy, your ex-wife will have the opportunity to discharge all of her debts. As far as the creditor is concerned, the courts may alleviate her of her portion of the responsibility but they will in this case turn to any cosigners still expecting to receive payment. If she successfully completes a chapter 7 filing you will be stuck paying the balance owed on the mobile home. If this situation will cause you considerable financial burden you may need to consider whether or not you need to file a bankruptcy petition of your own. A qualified Minnesota bankruptcy attorney, or one in your own state if you are not in Minnesota, should be able to help you determine what steps to take next.