What is chapter 13 bankrupsy??
358190
The purpose behind Chapter 13 Bankruptcy filing is rehabilitation of the debtor. Meaning you are given the opportunity to repay some or all of your debts, but under generally better terms (lower or no interest). Rather than having to liquidate assets to pay off debts, this process is designed to allow the debtor to use future income to pay off creditors. Chapter 13 Bankruptcy is basically an adjustment or reduction of debts for a debtor with regular income.\n\nThe United States Bankruptcy Code provides the debtor an opportunity to pay back their creditors over a period of time of up to five years. This process is completely supervised by the court. Your attorney will ensure that your interests will be protected. \n\nChapter 13 Bankruptcy allows the debtor to keep all of their property. However, an interest-free plan for repayment must be developed and approved by the court. The debtor begins to make payments within thirty to forty-five days after the case has begun. Unlike Chapter 7 Bankruptcy, the payments are made to the trustee who will then pay the appropriate creditors. Chapter 13 Bankruptcy prevents creditors from collecting from the debtor. The creditors are required by law to strictly follow the terms of the repayment plan..a plan which is, of course, prepared by your attorney preparing the Chapter 13.
21036
Did you buy shares in the company? If teh company is dissolved you will not get any money, as the last people to get any money in a bankrupcy case are the shareholders (Thaxtgon lists debts of $242 million as of Aug. 31, against assets of $206 million). Hopefully there will be a restructured company, in which case you could recover something, albeit priced much lower than their worth prior to Chapter 11.
50195
That means thanks to president bush's new law the chapter 13 will not confirm the bankruptcy because for whatever reason he/she feels you have the means (money) to repay your unsecured debt! Now you will go into court before the chapter 13 trustee, and file for 13 instead of 7 or 11! This means additional attorney fees, trustee gets paid a fee too (of course), as well as months more of your time spent in a court room. Thank God we elected Bush! He has screwed up so many areas of our judicial system. Look at his brainstorm idea working for Medicare's drug plan.
377687
Without a doubt, its meant as a protection that was not awarded in England thus the term 'debtors prison.'  As a result people without the ability to file for bankruptcy were thrown into prison to die and later during colonial times sent into indentured servitude to pay off debts.  Almost all abuses of the bankruptcy system are perpetuated by corporations under 'reorganizing' and other businesses that get to curtail debt through a court approved settlement.  Or Donald Trump filing repeatedly because he puts his name in companies when he buys for himself. Most bankruptcy now, since chapter 7 is so limited by recent legislation never absolves the debt, but only gives an easier repayment plan to the debtors under different chapters of the bankruptcy code.  So in 95% of all instances for individuals, it merely makes a payment option that is afforable; hopefully for them as to have ability for food and shelter still.  Instead of taking everything from them, making them homeless, we allow people to live and not be thrown into prison, it was one of the major complaints of the colonists about English rule and strictly prohibited and why US started bankruptcy.  But for corporations, its just a way to screw another corporation generally...\n\ni.e. I'm a corporate, securities. bankruptcy lawyer for corporate clients...  When I die, I will be going to hell...
362197
I"m so sorry for your loss.\n\nDid you go to a bankrutcy lawyer?  I would check with them.  If some of the debt included in the bk was soley his, you might not be responsibe.  If it hasn't gone through completely, you might be able to file hardships with creditors who will suspend rates or payments for a little while.  Also, the bankruptcy courts might be able to recalculate payments because of your lack of income.\n\nBasically, I would see a professional.  Maybe you can find a relative to help you with finding someone that will do it cheap/free.
50916
They will make it very difficult or impossible to file chapter 7.  You will probably have to file chapter 13 which means repaying at least partially your debts.  It also increases the cost and complexity of the process.
61189
You are referring to the 341 meeting, named after section 341 of the Bankruptcy Code.
1046154
Creditors do not get to vote on a Chapter 13 plan.  The debtor must propose a repayment plan and the court will confirm the plan if the debtor proposes the plan in good faith.  If the court confirms the plan, the creditors really don't have a choice.  The confirm plan is a court-ordered repayment.  If the debtor makes all the payments required under the plan, then the debts will be discharged.\n\nThe creditors can file a motion objecting to the confirmation of the plan for a variety of reasons.  If the court sides with the creditors and denies confirmation, then the case will be dismissed.
15483
There are different types of bankruptcy, and the rules have just been tightened up by the Republican Congress to make it harder for indiviuals to recieve bankruptcy protection for their personal debts.  The old rule was that there was a 7 year peroid after declaring before you could declare again.\n\nA legal website offers this info: \n\n"A Chapter 7 bankruptcy can be filed every 8 years from a previous chapter 7 filing or 6 years from a prior chapter 13 filing. Chapter 13 can be filed 4 years from a prior Chapter 7 filing or 2 years from a prior Chapter 13 filing. Filing bankruptcy can adversely affect your ability to obtain future credit, rent housing and even negatively impact a job application, so any decision to file must be carefully considered."
1048241
Long Beach Mortgage, only if chapter 13, must pay off BK 65% max LTV
423875
The biggest thing is that it created a means test for filing chapter 7 bankruptcy, in which most assets are completely liquidated and the proceeds given to creditors and all outstanding debt (aside from some protected debt, like mortgages) is discharged. The result is that most people no longer qualify for chapter 7, and instead have to file chapter 13, in which a repayment plan, usually over 3-5 years, is created, in which ALL disposable income goes toward paying off debt, and at the end of that, any remaining debt is discharged.
374132
In the UK, filing for BK is an ACT of bankruptcy. Such a filing would be a public record if you knew where it was made.
392439
If you fail the means test it is still possible that you might be able to file under Chapter 7 rather then Chapter 13 bankruptcy provisions.  If this is not an option you could try credit counseling.\n\nIf you are unhappy with the current bankruptcy law you should let your Federally elected Congresspeople know.
731632
A Chapter 7 bankruptcy proceeding takes about 3-6 months to complete.\nA Chapter 13 bankruptcy (repayment plan) can take 3-5 years.\n\nBoth will most likely remain on your credit report for up to 10 years. However, if you make an effort to re-establish, your credit score will improve way before then.\n\nThe kind of debt you want to establish is mortgage and installment (car loan). Don't go out and open a bunch of credit cards. \n\nUsually you will start getting credit card offers as soon as your bankruptcy is discharged. Be careful, they are higher rates and you usually have to pay some extra fees. Just don't let the balance exceed 50% of your limit and this should help your credit.
819705
When you get before the court, explain that you have had a change in your life and would like to quash your application for protection under chapter 7 bankruptcy code, you shouldn't have to change to chapter 13 or any other chapter.  Let the judge know you no longer need bankruptcy protection and can pay all your bills in full immediately, though your credit is going to be shot anyway.
953677
The book at the following link will help you to learn about Bank Fiinancial Management  http://www.countrybookshop.co.uk/books/index.phtml?whatfor=0471849391\nNo, it probably wont help.
585212
Your only relief is Chapter 13 Bankruptcy. Ch13 is reorganization. It is effective the day you file it. That stops all foreclosures instantly. You still have to pay the mortgage. Nobody gets burned. But the court will allow you to keep your things and make the payments.\n Don't confuse this with a Chapter 7 bankruptcy. CH7, is a complete insolvency, It's done and over, all bills are wiped out.\n CH13, no bills are wiped out, you still have to pay them, but the court will not let anyone foreclose or repossess.\n\nGood Luck.