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The most common types of nondischargeable debts are certain types of tax claims, debts not set forth by the debtor on the lists and schedules the debtor must file with the court, debts for spousal or child support or alimony, debts for willful and malicious injuries to person or property, debts to governmental units ...
The good news is that if you ? or the attorney you hire ? gets the paperwork right and the case moves through the court to the point where debt discharge is determined, the U.S. Bankruptcy Courts says that 99% of Chapter 7 cases succeed.
The main difference between Chapter 11 and Chapter 13 is that a Chapter 13 bankruptcy requires that the debtor pay his or her debts within five years. On the other hand, Chapter 11 allows the filer to extend the five-year period unlike Chapter 13.
Examples of nonexempt assets that can be subject to liquidation: Additional home or residential property that is not your primary residence. Investments that are not part of your retirement accounts. An expensive vehicle(s) not covered by bankruptcy exemptions.
You need to list all your assets and debts when you file your bankruptcy. Leaving debts out of your bankruptcy filing will mess up your income and expense calculations.
Statement of Organization. (Form 410) Before money is raised or spent in connection with an election, committee treasurers should become familiar with the various campaign disclosure forms required for the type of campaign or committee involved.
A Proof of Claim must include any pertinent documentation, such as promissory notes, purchase orders, contracts, invoices, delivery receipts or security agreements. Other documentation might include monthly statements, pay records and ledgers.
No matter which form of bankruptcy is sought, not all debt can be wiped out through a bankruptcy case. Taxes, spousal support, child support, alimony, and government-funded or backed student loans are some types of debt you will not be able to discharge in bankruptcy.