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Answered 2012-06-04 08:33:05

In Chapter 7 bankruptcy, you ask the bankruptcy court to discharge most of the debts you owe. In exchange for this discharge, the bankruptcy trustee can take any property you own that is not exempt from collection.

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An unfortunate aspect of Chapter 13 bankruptcy plans is that the budget is very strict and hard to keep. An individual having problems with the chapter 13 bankruptcy can convert into a chapter 7 bankruptcy or re-file altogether. Make sure to look into the changes and different effects that a chapter 7 (as compared to Chapter 13) will have on you.


The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.



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.


is it safe to file for voluntary dismissal of chapter 13 bankruptcy


contact a bankruptcy lawyer


The Chapter 13 bankruptcy law allows a debtor to keep their property and pay their debt over time, usually over a period of between three to five years.


In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy


can you change your filing from chapter 7 to chapter 13 ?


If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.


You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.


A chapter 13 lawyer is good at filing for bankruptcy for their client. A bankruptcy lawyer can help you find the best financial path after filing for bankruptcy.


Chapter 7 is debt elimination and is the more severe form of bankruptcy. Chapter 13 is where a repayment schedule is drawn up and you still payoff your debts.


The difference between the types of bankruptcies have mainly to do with whether the filing is for an individual or a business. There are two types of bankruptcy for individuals. Those are Chapter 7-by far the most commonly filed form of bankruptcy and Chapter 13-which is more of a debt consolidation type of bankruptcy. Both have various positives and negatives. The article below goes into the specifics of Chapter 7 vs Chapter 13.


No. You can only have one bankruptcy proceeding at a time. You can convert the 13 to a 7.


Yes. If you voluntarily have a chapter 13 bankruptcy dismissed, your creditors will be notified of the dismissal.


Not by creditors who agreed to participate in the chapter 13 bankruptcy.


Yes, there are no time limits for filing a Chapter 13 bankruptcy.


The best way to find out would be to sit down with a bankruptcy lawyer who would be able to advise you of the different types and whether bankruptcy is the right option for you. Generally speaking, Chapter 7 bankruptcy (straight bankruptcy) is liquidated bankruptcy whereas Chapter 13 bankruptcy (repayment plan bankruptcy) is reorganization bankruptcy


A Chapter 7 bankruptcy is a "straight bankruptcy" where the assets are liquidated. This differs from Chapter 11 and Chapter 13 bankruptcies, where the company is reorganized. For more information see the related link.


Rick Mitchell Law offer experienced Chapter 13 Bankruptcy Attorneys. Most clients who need Chapter 13 bankruptcy protection have issued with businesses and partnerships that need to be unwound or otherwise dealt with.


A chapter 7 bankruptcy filing remains on your credit report for 10 years. Chapter 13 bankruptcy remains for seven years. Under chapter 13 bankruptcy you repay at least a portion of the debt, so it is removed a little sooner.


While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.


The U.S. Bankruptcy Code allows debtors to file for bankruptcy multiple times, but has changed the number of years you must wait between filings. Previously, a debtor could file under either Chapter 7 or 13 after a six-year waiting period. In 2005, this changed to coincide with the new rules for bankruptcy filings under Chapter 13.Chapter 13 After Chapter 7Section 1328(f) of the U.S. Bankruptcy code restricts debtors who previously filed for bankruptcy under Chapter 7 from filing under Chapter 13 for four years from the date of the Order for Relief.Chapter 13 After Chapter 13Under the same section, debtors who previously filed under Chapter 13 can again file under Chapter 13 after a mere two years from the date of the Order for Relief, although you may be required to finish payments under your reorganization plan before the judge will accept your filing.After a Dismissed Bankruptcy FilingIf you filed for bankruptcy, but the judge rejected or dismissed your filing, or you voluntarily or involuntarily withdrew from the proceedings, you may file under either chapter 180 days after the dismissal/withdrawal date.Rules for Filing Bankruptcy Multiple TimesWhile the U.S. Bankruptcy Code does not restrict the number of times a debtor may file bankruptcy, bankruptcy judges can--and do. Many judges routinely reject additional bankruptcy filings when they feel a debtor is abusing the protection or failing to honor his financial obligations to his creditors.ConversionsIf you wish to file bankruptcy under Chapter 13 because the provisions seem more appealing, you should consider converting your open Chapter 7 bankruptcy to a Chapter 13, instead.


Yes, that is what we call a chapter 20 bankruptcy, but they are very complex.



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