Sentences with phrase «filed under chapter»

In reviewing a motion for modification or termination filed under chapter 59 or section 1653 or 1655, the following constitute a substantial change in circumstances:

GateHouse filed under Chapter 11 in September 2013 and reemerged from the prepackaged bankruptcy in November 2013.

Approximately 63 percent of the petitions, down from 66 percent in 2014, were filed under chapter 7, in which a debtor's assets are liquidated and the nonexempt proceeds distributed to creditors.

About 37 percent, up from 34 percent in 2014, were filed under chapter 13, in which individuals who have regular income and debts below a statutory threshold make installment payments to creditors under court - confirmed plans.

One - tenth of one percent of petitions filed by individuals with predominantly consumer debt were filed under chapter 11, which allows businesses and individuals to continue operating while they formulate plans to reorganize and repay their creditors.1

Under the old rules, people who filed under Chapter 13 had to devote all of their disposable income (what they had left after paying their actual living expenses) to their repayment plan.

A municipal bankruptcy shares some similarities with Chapter 13 personal bankruptcy cases, but it is more like a corporate bankruptcy filed under Chapter 11.

Also consider that bankruptcies filed under Chapter 7 and Chapter 11 will remain on the credit report for 10 years.

The same day, of course, the firm issued a filing under Chapter 11 of the U.S. Bankruptcy Code that put an end to the expansion of its activities.

Snyder's decision allowed Detroit Emergency Manager Kevyn Orr to make a filing under Chapter 9 of the federal bankruptcy law.

Puerto Rico is a US Territory, but neither Puerto Rico nor its subdivisions or agencies are eligible to file under Chapter 9 of the US Bankruptcy Code.

And unlike Detroit, which was able to file under Chapter 9 of the U.S. bankruptcy code, there's no court process under which Puerto Rico can restructure its debts — unless Congress changes the law.

You may not file under any chapter if within the preceding 180 days you had a prior bankruptcy petition dismissed due to your willful failure to appear before the court or comply with court orders, or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property on which they hold liens.

For example, the new bankruptcy law you will need to take a means test, if you are seeking to file under chapter 7.

File under Chapter 13 instead of Chapter 7.

Obviously most people would rather file under Chapter 7 and not have to pay any of their debts.

However, if your income is above a certain level, the law requires one to file under Chapter 13 and pay some debts back.

If your disposable income over 5 years is less than 25 % of this calculation, you have passed the means step and can file under a Chapter 7 Bankruptcy.

A debtor can not file under chapter 12 (or any other chapter) if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.

Above 25 %, you would be required to file under Chapter 13.

The bankruptcy code also prohibits stockbrokers and commodity brokers from filing under Chapter 13, even if their debts are personal.

These debts will be unchanged if you file under Chapter 7.

First, you must be a resident of the United States to file under Chapter 13.

Do not fall into the trap of thinking you can file under Chapter 7; Chapter 13 may be your only option.

By filing under this chapter, you get the option to reorganize your payment plans and reschedule secured debts.

Although an individual may file under Chapter 11, it is generally used to reorganize a business.

If your income exceeds the state medium you can be forced to file under Chapter 13 (a repayment program) and not Chapter 7 (a discharge and forgiveness plan).

In addition, stock and commodity brokers are prohibited from filing under chapter 11 and are restricted to chapter 7.

These laws were designed make it more difficult for consumers and businesses to file under Chapter 7 bankruptcy, under which most debts are forgiven (discharged), and instead be forced to file under Chapter 13.

If the income that's left over is less than $ 100, you can still file under Chapter 7.

If a debtor's current net monthly income (based on the last six month's average), less one - sixtieth of secured payments and priority debts, less allowed expenses permitted by the IRS and certain other allowed expenses, is greater than $ 100 per month, the trustee or any creditor can request that you be required to file under Chapter 13.

By «bankruptcy,» most people mean filing under Chapter 7 of the bankruptcy code.

If you have concluded that you need to file for personal bankruptcy, you face the choice of filing under Chapter 7 or Chapter 13 of the US Bankruptcy Code.

Because most Chapter 7 filers pay nothing to creditors, most people prefer to file under Chapter 7.

Instead you will have to file it under the chapter 13.

Pre-bankruptcy credit counseling ($ 50) is required for debtors filing under Chapter 7.

In New York, you can file under chapter 7 (also known as liquidation bankruptcy), chapter 9 (only for municipalities and governmental units), Chapter 12 (only for those who qualify as family farmers), chapter 13 (debt repayment chapter) and Chapter 11 (reorganization chapter available to businesses and individuals who have substantial assets or income).

Filing under chapter 13 bankuptcy will halt all collection and foreclosure proceedings and allow you to catch up on your payments.

Even for individuals who must file under Chapter 13, bankruptcy is still a better option to rid of credit card debt compared to refinancing your mortgage.

An individual also must receive credit counseling months before filing for Chapter 7 (with few exceptions), and can not file under Chapter 7 or any chapter if a prior bankruptcy petition recently was dismissed by the court or debtor.

Filing Chapter 13 Could be Advantageous Most people in Michigan file under chapter 7 or chapter 13 because a Chap 11 BK is extremely expensive and complicated.

A bankruptcy filing under Chapter 7 is called liquidation.

Many of our potential clients ask us whether they should file under Chapter 13 or under Chapter 7.

If your income is higher than the applicable median, a calculation of your monthly expenses, income, and debts is used to determine whether you can file under Chapter 7.

A medical bankruptcy filing under Chapter 7 can protect your assets from repossession and stop wage garnishment.

If you have decided to file bankruptcy - regardless of whether you're filing under Chapter 7 or Chapter 13 bankruptcy - you'll first need to obtain a credit counseling briefing from a certified credit counseling agency.

The length of your case will depend on whether you file under Chapter 7 or Chapter 13 bankruptcy.

In order to be eligible to file under Chapter 13 of the U.S. Bankruptcy Code, your debts can not exceed these limits:

There's no means test for Chapter 13 bankruptcy, and some debtors who can not qualify for Chapter 7 bankruptcy opt to file under Chapter 13 bankruptcy instead.

If after applying the marital adjustment deduction you still do not qualify for a Chapter 7 bankruptcy, you may be permitted to file under Chapter 13.