Bankruptcy Blogs

Don’t click on the Girls Gone Wild (herienafter, GGW) link unless you are ready to view X rated material.

Which, they supposedly get for free, so, why file bankruptcy?

A

adversary proceeding

A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court. A nonexclusive list of adversary proceedings is set forth in Fed. R. Bankr. P. 7001.

assume

An agreement to continue performing duties under a contract or lease.

automatic stay

The bankruptcy law regarding the scope of the chapter 13 discharge is complex and has recently undergone major changes. Therefore, debtors should consult competent legal counsel prior to filing regarding the scope of the chapter 13 discharge.

Unless the court grants an extension, the debtor must file a repayment plan with the petition or within 14 days after the petition is filed.  A plan must be submitted for court approval and must provide for payments of fixed amounts to the trustee on a regular basis, typically monthly. The trustee then distributes the funds to creditors according to the terms of the plan, which may offer creditors less than full payment on their claims.