Chapter 13 Bankruptcy: A Matter of Definition

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Chapter 13 bankruptcy is a repayment plan that allows the debtor to cure defaults on home mortgages, pay taxes, and discharge debts not dischargeable in Chapter 7 while protected from collection action.. Throughout the case, the debtor stays in possession and control of his assets.

Under Chapter 13, those who file may take as long as five years to complete the payment plan. Chapter 7 bankruptcy – Even though this is not the subject of this post, it’s helpful to understand Chapter 7 because it is usually the only other form of bankruptcy relief for consumers. It is often referred to as a complete liquidation.

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A chapter 13 bankruptcy is also called a wage earner's plan. If the debtor operates a business, the definition of disposable income excludes those amounts .

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Chapter 13 Bankruptcy: A Matter of Definition in Daily Dose , Foreclosure , Government , News , Print Features April 26, 2019 1,807 Views Editor’s note: this story originally appeared in the April.

Read answers to common questions about Chapter 13 bankruptcy in Colorado.. duration of the plan, the amount to be paid to each creditor, and other matters.

Know how Chapter 13 bankruptcy works and it's effect on your credit.. creditors: filing chapter 13 means you'd effectively be working under a bankruptcy. Any debtor (doesn't matter whether self-employed or operate an.

Matter of H. into the debtor’s bankruptcy estate under § 541, and thus the Trustee held all of the debtor’s rights in the LLC, including liquidation rights. In re Denman, 513 B.R. 720 (Bk.W.D.Tenn..

Whelan, resident scholar of the American Bankruptcy Institute, a nonprofit professional organization. "Thank God, the day in which it was like wearing a blazing star on your forehead is over." If.