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In a Chapter 13 Bankruptcy who gets paid last? Creditors, Trustee, their attorney or their lender? ALL ADMINISTRATIVE COSTS - TRUSTEE, ATTORNEY ARE PAID FIRST - BEFORE ANYTHING ELSE. The others sort of depend...a lender is a creditor...if a secured lender...probably before any other.
What else can I help you with?
Can you sell a vehicle that was included in a Chapter 13 bankruptcy case and is not yet paid off?
No
What is the definition of Chapter 11 bankruptcy?
To somewhat oversimplify: Chapter 11 is "reorganization" for Corporations or a business, & Chapter 13 is a very similar thing for people. Debts and life are paid off/down and things re-organized. Chapter 7 is flat-out, busted-broke bankruptcy - out of business, not a penny left.
If an LLC declares bankruptcy how are owed employee wages handled?
If an LLC declares Chapter 11 bankruptcy the employees wages will continue to be paid as normal. However, under a Chapter 7 bankruptcy, the employees are listed as creditors, and wages are paid out with other creditors from any remaining assets, if any remain.
When a creditor is paid-off through a Chapter 13 Bankruptcy is the creditors information automatically removed from your credit history?
No. Sometimes it will be reported as "Included in Bankruptcy"
What type of bankruptcy can you file to not have to pay off your debt?
In ANY bankruptcy, whether or how much of your debt gets paid is dependent on what type it is, and more importantly, what your assets are. Your assets are used to pay your debts...have enough and 100% gets paid.
Can someone put a lien on your paid off boat before you file chapter 7 bankruptcy?
Sure
When filing Chapter 7 bankruptcy should a car that is not paid off be included on the schedule of personal property?
no
Can you donate a paid for car while in bankruptcy?
When you donate a car after bankruptcy this means you are giving a property that you owned. Well, that's okay but not the right choice specially in times like this. Consult Atty Jeffrey Cancilla, he can help you deal with your problem.
If debts are paid after bankruptcy with a post bankruptcy inheritance does the bankruptcy go away?
No once filed on file. * A dismissed or discharged chapter 7 will remain on a credit report for ten years. A dismissed or completed chapter 13 will remain on a credit report for 7 years.
Can you refinance in chapter 13?
Yes. If you have had 12 months of on time payments to the truste and your mortgage has been paid on time,While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.
Necessary to file a claim in chapter 7 bankruptcy?
If you want to have any chance of being paid any portion of what your owed.
What percentage of unsecured debt is paid to the debtors involved in a chapter 13 bankruptcy?
The percentage paid to unsecured creditors in a Ch 13 is determined by your disposable income. Secured creditors get paid at 100%, house and car payments remain the same. What's left over gets paid out to those unsecured creditors who file proofs of claim. If a creditor does not file a claim, then that creditor does not get paid.
