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Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Debtor education classes provide customized guidance based on your unique circumstances. Since then, bankruptcy filers have been required to take both a bankruptcy credit counseling course and a debtor education course.
And a significant amount of time comes from mandatory waiting periods required by the law. Will All of My Debt Get Discharged? When you file a Chapter 7 bankruptcy, it is only your unsecureddebts that will be eligible for discharge. Legal and attorney fees can vary from one lawfirm to the next.
Chapter 13 Bankruptcy In Chapter 13 bankruptcy, which involves a structured repayment plan over a specified period, debtors are not required to liquidate their assets. IRAs are generally protected in Chapter 13, allowing debtors to maintain their retirement savings while addressing their financial obligations.
The post Overview of Florida’s New Uniform Commercial Real Estate Receivership Act appeared first on Jimerson Birr LawFirm. Authors: C. Ryan Maloney, Esq. Melissa Murrin, J.D. Candidate 2021.
Every case is unique, and every case merits the careful consideration of a lawfirm dedicated to providing specialized bankruptcy solutions. This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment.
The Bankruptcy Court retains discretion to extend these deadlines for “circumstances for which the debtor should not justly be held accountable.”. Similarly, debtors must file financial reports required by Section 1116(1) on the petition date, periodic performance reports required by Section 308, and their schedules and statements.
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