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The average bankruptcy packet ranges from 40 to 50 pages in length. The beauty of a skeleton filing is that you don't have to complete all of the required paperwork.
The biggest difference between Chapter 7 and Chapter 13 is that Chapter 7 focuses on discharging (getting rid of) unsecured debt such as credit cards, personal loans and medical bills while Chapter 13 allows you to catch up on secured debts like your home or your car while also discharging unsecured debt.
The average bankruptcy packet ranges from 40 to 50 pages in length.
A bankruptcy letter should be clear and concise and provide all the necessary information. It should include the name and contact information of the debtor, the date of the filing, the court where the bankruptcy was filed, the case number, and the type of bankruptcy filed.
Chapter 13 permits the debtor to file a plan in which the debtor agrees to pay a certain percentage of future income to the Bankruptcy Court for payment to creditors. If the Court approves the plan, the debtor will be under the Court's protection while repaying such debts.
Fill Out and File the Chapter 7 Bankruptcy Forms Your case starts after filing the completed bankruptcy forms (the "petition"). Because a bankruptcy filing can be up to 60 pages in length, you can use the emergency filing procedure if you're short on time?it requires fewer forms.
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.
While the average length of a Chapter 11 Bankruptcy case can last 17 months, larger and more complex cases can take up to five years. And following the conclusion of the bankruptcy case, it can still take months for Debtors to begin distributing payouts to the highest priority class of Creditors.