Saturday, May 7, 2011
Who can chapter 13 file.
Chapter 13 bankruptcy is debt adjustment known bankruptcy. It is a way for individuals to create schedule of debt that creditors are forced to accept. IndividualsChapter 13 is only for individuals, including the employees in a job, unemployed and self-employed. Chapter 13 is not available for partnerships, companies with limited liability or corporations. 180 Day RuleYou cannot not filing for chapter 13 if you have submitted in the last 180 days and your request through their own fault (such as failure in the Court or documentation file appear) Banküb CounselingWithin 180 days before filing for chapter 13 credit counseling with an approved body must participate was rejected. A list of ask, that accredited online or by calling your local bankruptcy courthouse.Secured LimitsYou debts are eligible for chapter if the debts of more than $1,010,650 acquired. For example, if you have a House with an outstanding mortgage of $1,300,000, then you are not allowed for chapter 13 not debt LimitsYou are also not eligible chapter 13, if your unsecured debts exceed $336,900. Therefore, if $400,000 loan, unsecured or need the credit card are not eligible chapter 13.
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