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They have wide discretion to leave a case open as long as they feel necessary to determine whether fraud is being perpetrated or whether unexempt assets can be obtained.
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∙ 11y ago
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How long do it takes for a trustee to refund your tax refund after canceling chapter 13 bankruptcy?
60days
Can you keep your home if you file a chapter 13 bankruptcy?
Yes, as long as you keep making the payments.
Can a debt collector still collect your debt if you file chapter 13?
No they cannot, as long as you included them in your bankruptcy. They would be in violation of Federal Law, and liable to suit and possible penalty from the bankruptcy court. The bankruptcy attorney, or the trustee should be notified about any collections on a bankruptcy account.
If you are currently under Chapter 13 and have been for about 2 years how long does it take before you can try to sell your house and purchase another one?
That's a decision that is made by the BK trustee. The participants of a chapter 13 bankruptcy must get the permission of the trustee for all major financial transactions.
What are the various categories of bankruptcy individuals can file for?
It depends on if its for an individual or business. For an individual there is Chapter 7 and 13. In chapter 7 you will basically repay your debt at a reasonable amount to a trustee over the course of 5 years. In Chapter 13 your assets, (home car) are safe as long as you make the payments to the trustee. In Chapter 7 basically every debt is wiped out (but you'll take a big hit on your credit score) and your assets are not safe. A trustee can order your assets (car,home) to be sold to pay off your creditors.
How long after filing chapter 7 can you sell your vehicle?
The debtor cannot sell nor transfer any property without the permission of the bankruptcy trustee or until the BK has been discharged and closed.
How long do you have to be unemployed to file chapter 7?
You do not have to be unemployed to file bankruptcy.
Can you switch a Chapter 13 Bankruptcy to a Chapter 7?
As long as your Lawyer says.
How long does it take for a trustee to refund your tax refund after filing chapter 7 bankruptcy?
The tax refund goes into the bankruptcy estate. If your chapter 7 filing did not exempt the refund, the money will be used to pay the trustee and to pay your debts pro rata. That is, each creditor gets an amount equal to the percentage the debt is to the total indebtedness. You are not likely to get anything back, but if all the debts are paid off 100 per cent and the trustee is not entitled to any more money, the balance will be paid to you. The trustee should have decided what s/he is going to do. If you have a lawyer, s/he should discuss it with the trustee. You can also talk to the trustee or your case manager. I doubt you will get any of the refund, but make sure to stay on top of the issue and get notices of any trustee motions regarding these funds.
What can happen if you don't notify the trustee of inherited money after bankruptcy?
Nothing, or your bankruptcy discharge can be reversed, or you can be fined or sent to prison. It depends on how much you inherit and how long after the bankruptcy you inherited it.
How long does a bankruptcy take to discharge in Idaho?
The time-frame for a Chapter 7 bankruptcy case in Idaho is the same as all other states. The discharge should arrive between three and four months after filing. This assumes that no creditor nor the Trustee has filed an objection to such discharge.
Can you sell your home during a Chapter 7?
In most cases you can, I had this same issue filing a chapter 7 and someone wants to purchase my home, I contacted my bankruptcy attorney and he said as long as there is not a lot of equity like $4000 or less than it is ok, but the trustee will be notified. I would advise anyone to wait if you have a large amount of equity.
