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   What is a chapter 13 bankruptcy?

   • Chapter 13 is the debt repayment chapter for individuals with regular income, including individuals who operate businesses as sole proprietorships. It is not available to corporations or partnerships. Chapter 13 generally permits individuals to keep their property by repaying creditors out of their future income.

   United States Bankruptcy Court - Eastern District of California

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   Does a corporation need a chapter 13 bankruptcy?

   • Therefore, individual bankruptcies may be required as well as the corporation or partnership bankruptcy. Chapter 13 is the debt repayment chapter for individuals with regular income, including individuals who operate businesses as sole proprietorships. It is not available to corporations or partnerships.

   United States Bankruptcy Court - Eastern District of California

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   What are the rules for Chapter 13?

   • Some of the rules for Chapter 13 are stricter than they used to be, and your financial activity during the repayment period will be under close scrutiny: Spending on such luxury items as expensive or multiple cars, jewelry, private school tuition, and vacations will likely have to be reduced or eliminated.

   The Bankruptcy Reform Act: What It Means to You

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   How does a chapter 13 repayment plan work?

   • Each chapter 13 debtor proposes a repayment plan which must be approved by the court. The amounts set forth in the plan must be paid to the chapter 13 trustee who distributes the funds for a percentage fee. Many debts that cannot be discharged can still be paid overtime in a chapter 13 plan.

   United States Bankruptcy Court - Eastern District of California

   www.caeb.uscourts.gov/BankruptcyTypes

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2. www.caeb.uscourts.gov › FAQUnited States Bankruptcy Court - Eastern District of California

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   1 day ago · Bankruptcy is a way for people and businesses who owe more money than they can pay right now (‘debtors') to either work out a plan to repay the money over time in a case under chapter 11, chapter 12 or chapter 13, or to wipe out (‘discharge') most of their bills in a chapter 7 case.

3. www.balancepro.org › resources › articlesThe Bankruptcy Reform Act: What It Means to You

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   5 days ago · A bankruptcy notation on your credit record (particularly a Chapter 7) can negatively impact such future decisions as buying a home or car, renting an apartment, purchasing insurance, and securing employment.

4. www.caeb.uscourts.gov › BankruptcyTypesUnited States Bankruptcy Court - Eastern District of California

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   1 day ago · Today is: Saturday, May 18, 2024. Four Basic Types of Bankruptcy Cases. Chapter 7 is the liquidation chapter of the Bankruptcy Code. Chapter 7 cases are commonly referred to as "straight bankruptcy" or "liquidation" cases, and may be filed by an individual, corporation, or a partnership.

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6. www.illinoislegalaid.org › legal-issues › bankruptcyBankruptcy | Illinois Legal Aid Online

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   2 days ago · We open opportunities for justice. Bankruptcy can help you get back on your feet if you have a lot of debt. But it's not for everyone. Learn more with these resources.

7. www.legalconsumer.com › bankruptcyBankruptcy: Guilford County, NC

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   1 day ago · Guilford County. Filing Bankruptcy In Guilford County, NC. While bankruptcy is federal law, many aspects, like exemptions involve state law, and —in the case of the means test — each county in North Carolina is assigned its own housing expense standards.

8. www.miamibankruptcy.com › blog › 2024How long do bankruptcy chapters last on a debtor’s credit ...

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   1 day ago · When a debtor files under Chapter 7, the bankruptcy information stays on the credit report for ten years from the filing date. In contrast, it’s a bit more lax for those who file under Chapter 13. The bankruptcy mark remains on a report for seven years from the filing date. This is because Chapter 13 involves a repayment plan, which usually ...

9. www.legalconsumer.com › bankruptcyBankruptcy: Knox County, TN - LegalConsumer

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   2 days ago · Knox County. Filing Bankruptcy In Knox County, TN. While bankruptcy is federal law, many aspects, like exemptions involve state law, and —in the case of the means test — each county in Tennessee is assigned its own housing expense standards.