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Yes, a corporation can be forced into bankruptcy. It isn't easy, and is costly, and of course has to have some real justification...and of course, may well get you nothing. If you have the justification, or can benefit by doing so, can not be answered here.

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14y ago
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12y ago

Yes, involuntary bankruptcy is available under both chapter 7 and chapter 11.

However, it is not available against certain types of debtors.

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Q: Can a creditor force a debtor into an involuntary chapter 7 bankruptcy?
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What is a stipulation in bankruptcy?

It's basically an agreement between the debtor and creditor on how the debtor is to pay the creditor that arises when debtor has filed bankruptcy.


Can the debtor file for bankruptcy after a creditor is awarded a default judgment because the debtor did not make a court appearance?

Yes, most judgments can be discharged in a chapter 7 bankruptcy.


What has the author Arnold B Cohen written?

Arnold B. Cohen has written: 'Guide to secured lending transactions' -- subject(s): Forms, Law and legislation, Loans, Security (Law) 'Bankruptcy, secured transactions, and other debtor-creditor matters' -- subject(s): Bankruptcy, Debtor and creditor, Security (Law) 'Debtor-creditor relations under the Bankruptcy Act of 1978' 'Teaching notes to accompany book 2 of Debtor-creditor relations under the Bankruptcy Act of 1978' -- subject(s): Cases, Debtor and creditor 'Bankruptcy, article 9, and creditors' remedies' -- subject(s): Bankruptcy, Cases, Debtor and creditor


What is the consequence to the debtor if you are an unnamed creditor in a Chapter 7 and should be?

Any creditor not included in a bankruptcy discharge retains the right to continue attempting to collect a debt. That would include using legal remedy in the form of a lawsuit against the debtor.


If my wife filed for personal bankruptcy are you responsible for her debt?

No you are not. When one spouse and not the other files for bankruptcy they are only doing so with regard to their personal debt. A debt is created by contract between a debtor and a creditor - each debtor must sign the contract to be liable for payment. Therefore, the bankruptcy of one spouse does not cause the other to become bankrupt. Debts where spouses are joint and severally liable for payment will remain with the spouse who has not filed for bankruptcy. Under Chapter 7 bankruptcy, where one spouse's debts are wiped clean, the creditor can go after the other spouse. However, a major advantage of Chapter 13 bankruptcy, where the debtor plans to re-pay her debts, is that the creditor will leave the co-debtor alone, as long as bankruptcy plan payments are timely deposited.


How do I convert chapter 13 bankruptcy to chapter 7 myself What should be included in the motion to convert letter?

The debtor (or the debtor's attorney) can do this with a simple filing - usually an "Ex Parte Motion to Convert Chapter 13 to a Chapter 7." Providing the debtor's bankruptcy has not previously been converted already, the debtor/debtor attorney can do this without the permission or advance permission of either the bankruptcy judge or the Chapter 13 trustee that is managing the bankruptcy up until that point (hence, the "Ex Parte" part of the document). There are notice requirements - check with your local bankruptcy district to see who this needs to be mailed out to. Also, there is usually a small fee involved (it usually involves the debtor paying the difference in cost between a Chapter 13 and a Chapter 7 filing, but may be different - again, check with your local bankruptcy court). The debtor will be required to go through another 341 creditor's meeting with the new Chapter 7 trustee.


How do you get an old creditor who was not listed on a chapter 13 bankruptcy to stop bothering you?

Send a letter of "cease and desist". This will not keep a creditor from filing lawsuit to recover the debt. It will only prevent them from contacting the debtor except to inform the debtor that a suit is being filed.


Can only one spouse file bankruptcy when the other one owns the cars and house?

In general, the filing of bankruptcy by one spouse will not affect the other spouse's financial situation. A debt is created by contract between a debtor and a creditor - each debtor must sign the contract to be liable for payment. Therefore, the bankruptcy of one spouse does not cause the other to become bankrupt. Debts where spouses are joint and severally liable for payment will remain with the spouse who has not filed for bankruptcy. Under Chapter 7 bankruptcy, where one spouse's debts are wiped clean, the creditor can go after the other spouse. However, a major advantage of Chapter 13 bankruptcy, where the debtor plans to re-pay her debts, is that the creditor will leave the co-debtor alone, as long as bankruptcy plan payments are timely deposited.


Are there fees involved when you dismiss your bankruptcy?

A debtor can dismiss a Chapter 13 bankruptcy at any time without a fee, except perhaps for any remaining attorney's fees that have not been paid under the Chapter 13 plan. A debtor cannot voluntarily dismiss a Chapter 7 without filing a motion wiht the court. Even then, the debtor must be able to demonstrate that no prejudice to creditor if the Chapter 7 is dismissed. The debtor can convert the 7 to 13 (which does involve a fee) and then dismiss the Chapter 13.


What has the author Luther David Swanstrom written?

Luther David Swanstrom has written: 'Chapter ten' -- subject(s): Bankruptcy, Consolidation and merger of corporations, Debtor and creditor


What requirements must be met for creditors to file an involuntary bankruptcy petition under chapter 7 of the federal bankruptcy code?

The debtor has not been paying its bona fide debts as they become due


What has the author Nancy Trejos written?

Nancy Trejos has written: 'Hot (broke) messes' -- subject(s): Compulsive shopping, Debtor and creditor, Personal Finance, Bankruptcy 'Hot (broke) messes' -- subject(s): Compulsive shopping, Debtor and creditor, Personal Finance, Bankruptcy 'Hot (broke) messes' -- subject(s): Compulsive shopping, Debtor and creditor, Personal Finance, Bankruptcy