Other than consumer perceptions that bankruptcy is somehow unethical or "wrong", the primary issue with filing bankruptcy is that it remains on the debtor’s credit for up to seven (Chapter 17) or ten years (Chapter 13) from filing and may interfere with efforts to obtain credit, purchase or refinance a home or even obtain employment.
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Grand Rapids Chapter 13 Bankruptcy Attorney | Answers to Common Questions.. We represent clients in all bankruptcy matters throughout West Michigan,
Chapter 13 plan. A Chapter 13 plan is a document filed with or shortly after a debtor’s Chapter 13 bankruptcy petition. The plan details the treatment of debts, liens, and the secured status of assets and liabilities owned or owed by the debtor in regard to his bankruptcy petition. In order for plans to take effect,
A consultation with one of the Hampton, Virginia Chapter 13 bankruptcy. A third class of creditors has what the bankruptcy laws define as priority claims,
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Chapter 13: A U.S. bankruptcy proceeding in which the debtor undertakes a reorganization of his or her finances under the supervision and approval of the courts. As part of the reorganization, the.
In the middle of a Chapter 7 or 13 Bankruptcy and worried about the inheritance. It does not matter if the money or property is not received until after the. chapter 13 has a broader definition of property of the estate than that.
Chapter 13 bankruptcy helps to reorganize your debts so that you can afford to pay. That is, if you have a lot of assets but little income, meaning your payment plan. your bankruptcy trustee handles a great deal of paperwork, judicial matters,
Bernstein-Burkley, P.C.'s Dictionary Of Bankruptcy Terminology explains the. Certain criminal matters and matters arising after the filing are not stayed.. Chapter 13 differs from Chapter 11 in that a plan is proposed at the.
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Chapter 13 bankruptcy – A form of bankruptcy where a consumer enters into a court-approved payment plan to repay the consumer’s creditors. Under Chapter 13 , those who file may take as long as five years to complete the payment plan.
chapter 11 cases are by far the most complicated of bankruptcy cases, and as a result, there are very few law firms that handle chapter 11 cases, but many times individuals and companies cannot obtain the relief they need under chapter 7 or chapter 13, thus a chapter 11 is their best option.