Tag: denied

Can My Chapter 7 Bankruptcy Be Denied By The Court?

No. Other than the Creditor’s Bankruptcy Petition (legal action commenced by creditors), debtors may also institute bankruptcy petitions towards themselves (i.e. Debtor’s Bankruptcy Petition).

chapter 7 bankruptcy trustee responsibilities and compensation

For many debtors, Chapter 7 bankruptcy is a better possibility than Chapter thirteen bankruptcy. Below Section 6 of the Bankruptcy Ordinance , the quantity of debt in a creditor’s petition should be equal to or exceed $10,000, and have to be unsecured. That hostility serves because the backdrop for a fierce battle in bankruptcy courtroom over how much money PG&E will pay wildfire victims, insurance companies, public agencies and other creditors.

Though the federal government retains a watchful eye out for bankruptcy fraud, any creditor of a bankruptcy debtor can file a complaint towards the debtor. As a result, there is a bankruptcy court docket in every federal district of the United States. The bankrupt may file a defence … Read the rest

Read More