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If your case is dismissed, you are entitled to a refund of any money that is still in the trustee's possession. However, the trustee has to get approval from the court to send the money back to you, and they are allowed to take their administrative fees out of that money before refunding it.
"Cram down" simply means the process by which the bankruptcy court can, as part of the confirmation of a Chapter 12 Bankruptcy Plan, force treatment upon an objecting creditor, provided the Plan otherwise meets all of the other confirmation criteria under Section 1225 of the Bankruptcy Code.
Chapter 13 Has a Failure Rate of 67% Well, to get a discharge of your debts, you need to complete a 3-5 year repayment plan. And most plans are 5 years long. Only at the end of the plan will the remainder of some debts be forgiven. Why is Chapter 13 Probably A Bad Idea? - Upsolve Upsolve ? learn ? why-chapter-13-is-proba... Upsolve ? learn ? why-chapter-13-is-proba...
How Can I Recover from Bankruptcy? Apply for Proof of Discharge. ... Understand Why You Declared Bankruptcy. ... Find Employment and a Home. ... Make a Financial Plan. ... Pay Your Bills. ... Rebuild Your Credit Rating. ... Stick Within Your Means.
Unless your Chapter 13 plan does not include paying unsecured debts, a future lender will be less concerned about the bankruptcy on your record and the risk that a potential loan will not be paid back. On the other hand, filing for Chapter 13 instead of Chapter 7 probably will not greatly affect your credit score. How Filing for Chapter 13 Bankruptcy Can Legally Affect Your Credit - Justia justia.com ? bankruptcy ? chapter-13-bankr... justia.com ? bankruptcy ? chapter-13-bankr...
Chapter 13 Bankruptcy is Bad For Your Finances Money you had paid in the payment plan suddenly is applied to interest on debts that had been held in abeyance, which means you will owe more than when you started.
Oftentimes, it's the result of a significant change in the debtor's financial status (job loss, income reduction, sickness, injury) that makes the agreed-upon Chapter 13 repayment plan impossible to meet. What Happens When a Chapter 13 Case is Dismissed? - Debt.org debt.org ? bankruptcy ? chapter-13-dismissal debt.org ? bankruptcy ? chapter-13-dismissal
Generally, Chapter 7 is more appropriate for simple cases while Chapter 13 for more complicated bankruptcies. Or somewhat more accurately, Chapter 13 can give you more power over and flexibility with certain kinds of creditors, and if you have non-exempt assets. Chapter 7 vs. 13 Bankruptcy: The Main Differences - Leinart Law Firm leinartlaw.com ? chapter-7-vs-chapter-13 leinartlaw.com ? chapter-7-vs-chapter-13