| Chapter 7 Eligibility |
| |
| A petitioner must reside in or have a domicile, a place of business, or property in the United States in order to file a Chapter 7 bankruptcy. The petitioner must not have been granted a Chapter 7 discharge within the last six years or completed a Chapter 13 plan. More... |
| |
| IRA Protection in Bankruptcy |
| |
| Social Security benefits, company pensions, and 401(k) plans are all shielded by law and are, therefore, not lost to creditors in bankruptcy. Whether that same protection extends to an individual retirement account (IRA) is not clear. The bankruptcy law, which was drafted in the 1970's before IRAs became such an important vehicle for retirement savings, is ambiguous. This has led to contradictory rulings in federal courts around the country.More... |
| |
| Bankruptcy and Liabilities Arising in a Marriage or Family Relationship |
| |
| The status of marriage creates duties and obligations between spouses that may be different from, and in addition to, those they consciously agree to assume. The bankruptcy of one spouse alone can sometimes affect the other spouse because of obligations arising out of the marriage relationship. More... |
| |
| Grounds for Dismissal |
| |
| The Bankruptcy Code and Federal Rules of Bankruptcy Procedure permit liberal amendments to a debtor's petition, schedules, lists, and statement of affairs. Generally, courts are not likely to dismiss petitions. Common grounds for dismissal are (1) inability to pay fees, (2) "cause" to dismiss, and (3) lack of "good faith."More... |
| |
| Converting a Chapter 13 to Chapter 7 |
| |
| A Chapter 13 bankruptcy filing may be converted into a Chapter 7 bankruptcy filing. One common reason for converting from Chapter 13 to Chapter 7 is a petitioner's inability to stay current in the Chapter 13 repayment plan. A petitioner may not convert a Chapter 13 to a Chapter 7 if the petitioner has already received a Chapter 7 discharge within the previous 6 years.More... |
| |
