Chapter 7 bankruptcy involves liquidating assets to pay off debts, while Chapter 13 bankruptcy involves creating a repayment plan to pay off debts over time. Chapter 8 bankruptcy does not exist in the U.S. bankruptcy code.
Chapter 13 laws are the laws that govern bankruptcies. These are different than Chapter 7 bankruptcies because these have a repayment plan by which you repay your creditors.
Yes, separated by years.
Bankruptcies (both Chapter 7 and Chapter 13) remain on your credit report for 10 years.
go to www.beatlandscreditrepair.com they have a lot of information about bankruptcies.
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't have two separate bankruptcies at once. If you are under a chapter 13, and are no longer able to make your plan payments, then you can convert your case from a 13 to a 7.
No. Penalties are not able to be discharged - although you must list them.
A chapter 11? A farm? Bankruptcies are not "seen" by credit reporting bureaus, they just report them. They can see them any time by logging on to a bankruptcy court web site with their log-in info. They can only report bankruptcies up to 10 years after the filing date.
No. Not in Oklahoma or any of the United States or territories. Filing of successive bankruptcies, whatever the form, can take place only after eight years.
Chapter 7 is a complete discharge of all dischargeable debts. Chapter 13 is a repayment plan of the debts under the bankruptcy court's supervision and protection.
No. Dismissed is essentially incomplete - no resolution...discharged is completed and closed.
Surah is the Arabic name for the chapter of the Holy Quran particularly.