Chapter 13 Bankruptcy: A Matter of Definition

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Have an Attorney Help You With the Chapter 13 Bankruptcy Process. Once you’ve weighed the advantages and disadvantages of Chapter 13 bankruptcy, in addition to information about Chapter 7 bankruptcy, you’ll be better equipped to make a decision. But time is of the essence and you may need to consult with an expert before you decide.

Chapter 15, Title 11, United States Code is a section of the United States bankruptcy code that deals with jurisdiction.Under Chapter 15 a representative of a corporate bankruptcy proceeding outside the U.S. can obtain access to the United States courts.

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The Chapter 13 Bankruptcy Process | Learn About Law MEMPHIS, Tenn. (AP) – Discount retail and pharmacy chain Fred’s Inc. is filing for bankruptcy and closing its stores over the.

Chapter 13 bankruptcy is usually called the reorganization bankruptcy. It is a debt that is filed by consumers who wish to pay their debts within a period of three to five years. It is a strategy that helps individuals to keep some of their possessions such as their homes and at the same time have a means of financially meeting their usual.

By filing for Chapter 13 bankruptcy, a debtor can seek relief from their. As a practical matter, in a chapter 7 case the debtor loses all or most of his or her. under chapter 13 may either receive a full plan discharge, which simply means that he.

Chapter 13 bankruptcy offers a solution for people who have regular income, but are. In many Chapter 13 cases, some unsecured debt is discharged, which means that. represented more than 100,000 consumers in bankruptcy matters.

Chapter 13 refers to a U.S. bankruptcy proceeding in which the debtor undertakes a reorganization of his or her finances under the supervision and approval of the courts.

If a Chapter 13 plan is successfully completed, the interest and penalty charges are void and collection is not sought from the petitioner. However, if the case is dismissed, all money paid under a Chapter 13 bankruptcy may be applied toward interest and penalties; and therefore, petitioners may find themselves still owing a large balance to creditors.

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