An Illinois Notice of Motion (Urbana-Chapter 7 and Chapter 11) is a document that is filed in the Circuit Court of Champaign County when an individual or company is in bankruptcy proceedings. It is used to request a court order granting a particular action or decision. The Notice of Motion must be filed prior to the hearing date. For Chapter 7 bankruptcies, the Notice of Motion should include the debtor's name, case number, the name and address of the debtor's attorney (if applicable), the type of relief requested, and the date of the hearing. For Chapter 11 bankruptcies, the Notice of Motion should include the debtor's name, case number, the date of the hearing, the type of relief requested, and the name and address of the debtor’s attorney (if applicable). There are two types of Illinois Notice of Motion (Urbana-Chapter 7 and Chapter 11): a Motion to Approve Disclosure Statement and a Motion to Confirm Plan. The Motion to Approve Disclosure Statement requests the court to approve the disclosure statement and any other documents related to the bankruptcy proceedings. The Motion to Confirm Plan requests the court to confirm a proposed plan of reorganization or liquidation, which was submitted by the debtor.
Illinois Notice of Motion(Urbana-Chapter 7 and Chapter 11)
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FAQ
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.
Although there's often a wait time to file another Chapter 7 or Chapter 13 bankruptcy case, there's no limit to how many times you can file.
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains ?in possession,? has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.
After a Chapter 7 discharge, you must wait a minimum of four years from its filing date before you can open another case. You may be able to avoid the four-year wait and file Chapter 13 immediately with the caveat that your new Chapter 13 cannot be discharged.
Most Chapter 11 debtors receive a moratorium on the payment of most of their general unsecured debts for the period between the filing of the case and the confirmation of a plan. This period usually lasts for six to twelve months.
You can only get a chapter 7 discharge once every eight years, and. You may be able to protect your income and property without filing bankruptcy.
Filing Multiple Chapter 7 bankruptcies: A debtor can obtain a discharge in Chapter 7 cases filed every eight years. If the debtor's previous Chapter 7 case was dismissed or closed without discharge, they can obtain a discharge in another Chapter 7 case without having to wait eight years.
During your lifetime, you can file for bankruptcy protection as many times as you need it. There is no limit to how many times you can file, but there are time limits between filing dates. You could file but not receive any debt discharge in some cases, so you need to be careful.