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What is chapter 13 bankrupt?
There is a big difference between chapter 7 and chapter 13 bankruptcy. Generally speaking, chapter 13 bankruptcy is a type of Reorganization bankruptcy. It 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.
What is a Chapter 13 trustee used for?
Chapter 13 trustee is an entity, generally an individual, with the responsibility of managing a chapter 13 bankruptcy estate. The Chapter 13 receives the debtor's monthly payments and then distributes those funds proportionally to the debtor's creditors.
After filing chapter 13 can you change it to a chapter 7?
Before the new laws it was easier to convert. Depending on your ability to pay back your creditors. Please contact your attorney if you are having problems paying back you chapter 13.
After filing chapter 13 do you have to move out of your house any period of time?
Generally you should not have to because a chapter 13 protects your assets through the payment plan you filed with the court.
I filed a chapter 7 in 2004 can you file a chapter 13 now. Im in Ohio?
= Ans == Bankruptcy is ALWAYS in a Federal Court and under Federal Laws. (Yes, some Federal Districts use the prevailing rules regarding some things in their area...like what may be personal property compared to real property, but the overall rules are universal). YOUR STATE GENERALLY MAKES NO DIFFERENCE. Bankruptcy laws were reformed in 2005 making the time limit between chapter 7 filings 8 years from the time of discharge and the time for filing a chapter 13 after a chapter 7 discharge 4 years.
Can a 13 year old work as a landscaper?
Generally speaking a 13 year old cannot work as a landscaper. This is due in large part to state laws and insurance companies. In fact, most landscape companies will not hire anyone under the age of 18.
Can you keep your car that you are still paying on if you file chapter 13 bankruptcy in NM?
Generally yes.
How do you sell your house if you are in chapter 13?
You start by speaking with your case trustee/adminstrator. He must be involved by the terms of your case and agreement.
What rules or laws regulate refinancing a home to payoff a Chapter 13 plan?
All major financial transactions have to be submitted and approved by the Trustee in charge of the 13. He/she can give you the needed information for refinancing your home according to the chapter 13, terms.
If You Filed chapter 7 in 2002 can i refile?
Under the new Bankruptcy laws you must now wait 8 years before filing another Chapter & or Total Bankruptcy as it is better know. You may be eligible to file if eligible a Chapter 13 to structure repayment to those creditors.
What are the Business bankruptcy laws?
Chapter 11 is for corporations or other legal entities, or individuals with more debt than qualifies for a Chapter 13. Otherwise businesses file Chapter 7 the same as individuals.
What are the laws relating to bankruptcy in Texas?
The laws relating to bankruptcy in Texas are Chapter 7 and Chapter 13. Chapter 7 will completely relieve one of all major debt and allow for one to keep their house and one car. Chapter 13 is better if one fits into and has a steady income as it gives one the breathing room need to help one get out of debt without being completely over taken by their debt.
