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When filing chapter 11 can you choose to keep some creditors on your books with a balance?
Wiki User
∙ 15y ago
Most probably...if the creditors and court agree and it is part of an acceptable reorganization plan. To be certain it really isn't your choice.
Wiki User
∙ 15y ago
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Would you have to pay monthly notes in filing chapter 7 on my vehicle?
You don't file bankruptcy "on your vehicle." You file bankruptcy to discharge all your debts. You don't get to pick and choose which creditors. But, secured creditors either have to continue to be paid or you have to surrender the collateral, in which case the balance due on the secured note would be discharged.
Is an IRA protected under chapter 7 Like a 401K is protected when filing chapter 7?
all ERISA qualified retirement plans are protected from creditors in a BK.
Is there a form to file a Motion to Amend a discharged no-assets Chapter 7 and add previously unknown creditors of debt incurred before filing?
No, there is not an option for reopening a discharged BK to add creditors, such action only applies to assets or income that was not included in the original filing.
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.
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.
If you owe a thousand dollars to chapter 13 but are behind paying what will happen if you do not pay?
The trustee/bankruptcy court can dismiss the chapter 13. Creditors would then be able to pursue collection including filing a lawsuit.
If a chapter 13 bankruptcy has not been discharged can a creditor be added?
The bankruptcy is not discharged, the debts are. A creditor can be added if the plan is not too far along or if you have the excess income to pay whatever the creditors are being paid (percent of debt) for the balance of the plan. If it is a post-filing debt, it cannot be added.
If you are married can you still file chapter 7 bankruptcy?
A Chapter 7 case is commenced by the debtor filing a voluntary petition or at least three creditors filing an involuntary petition. A husband and wife can file a joint petition. 11 USC § 302.
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.
If some creditors still contact you about preexisting debts after filing Chapter 7 what recourse do you have prior to contacting your attorney?
You can inform them of the Circuit Court (or whichever applies) the BK was filed, and the Case/Docket numbers. However, the attorney handling the filing should be notified. Dealing with creditors is part of (or should be) the client and attorney agreement.
What happens at chapter 13 creditors' meeting?
Chapter 13 bankruptcy is different than chapter 7 in that you will essentially be reorganizing your debt and coming up with a payment plan. The creditors meeting 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.
What happens when a business starts filing bankruptcy?
When a business files for bankruptcy it basically means it can not repay the debts it owes to creditors. Generally a trustee will sell remaining assets and pay off creditors. The exact rules of what happens depends on what type of bankrupcty that is filed. In US for example there are Chapter 7, Chapter 13 etc.
