The form provides that the debtor is granted discharge under 11 U.S.C. section 1228(b). The form also requires a signature by the bankruptcy judge.
Travis Texas Order Discharging Debtor Before Completion of Chapter 12 Plan - updated 2005 Act form
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The term sequestration is used when the estate of a person is sequestrated (that is, the estate of a person who is no longer able to pay his or her debts due to uncontrollable circumstances is surrendered by order of the court). The estate of natural persons, partnerships and trusts can be sequestrated.
Under a Debt Agreement you agree to repay an amount to your creditors over a set period of time, up to 3 or 5 years. This repayment amount is based on what you can reasonable afford to pay and has to be agreed upon by your creditors.
A creditor's petition is a document lodged with a court by a creditor (someone who is owed money) against a debtor (the person who owes money to the creditor). The purpose of the creditor's petition is to ask the court to make a debtor bankrupt. A court can do this by making a sequestration order against a debtor.
In a Part 10 Debt Agreement (Personal Insolvency Agreement), a legally binding agreement is negotiated between you and your creditors by a Registered Trustee. In this instance, your Registered Trustee takes control of your property and offers to pay all or part of your debts back in an instalment or lump sum.
Definition of sequestration 1 : the act of sequestering : the state of being sequestered a jury in sequestration. 2a : a legal writ authorizing a sheriff or commissioner to take into custody the property of a defendant who is in contempt until the orders of a court are complied with.
This can be either through making all of the required agreed repayments on time or by paying out your Debt Agreement early. Provided you meet your obligations, your Debt Agreement will be removed from your credit file after 5 years (unless your debt agreement is over a longer term).
A Personal Insolvency Agreement (PIA), also called a Part 10 or Part X Agreement, is a legally binding agreement between you and your creditors in which you come to an agreement on how you will pay your debts.
A debtor's petition is a formal, personal application made by a debtor to the official receiver (Registrar in Bankruptcy) to be made bankrupt as per Section 55 of the Bankruptcy Act 1966 (Cth). A debtor's petition aims to protect the debtor from creditors and ensure the fair distribution of remaining assets and funds.
A debt agreement (also known as a Part IX debt agreement) is a formal way of settling most debts without going bankrupt. It's an agreement between you and your creditors that is, whoever you owe money to. A debt agreement is for people on a lower income who can't pay what they owe. But it comes with consequences.
1. The act of isolating someone during trial proceedings. The jury, or some witness, may be sequestered to preserve fairness during the trial. Thus, when not fulfilling their roles at trial, sequestered persons may live in a hotel so that they are not influenced by the opinions of journalists, friends, and family.
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Protection Act of 2005 (BAPCPA)2 was signed into law on April 20,. 2005. 12. Chapter 12: New Legislation.Banking and. Negotiable. Instruments. GAO-08-978SP Appropriations Law—Vol. III. Time continuing legal education program in the Commonwealth of Kentucky. It endures with the threefold purpose: 1) to assist lawyers in keeping abreast of.