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Which bankruptcy chapter was most affected by the change in bankruptcy laws in 2005?
The most significant change to the 1978 statute concerns consumer bankruptcy under the Chapter 7 liquidation provisions.
When did the time limit for a chapter 7 bankruptcy change from 8 years to 10 years and is a bankruptcy petitioner protected by a grandfather clause if they filed before the change?
The length of time a discharged 7 or 13 bankruptcy can remain on a credit report has always been 10 years. A dismissed chapter 13 remains for 7 years a dismissed chapter 7 remains for 10 years. Therefore, no type of clause applies because the requirement has never changed. Bankruptcy laws and credit reporting laws are two entirely different issues.
When can you file a chapter 7 bankruptcy again if you filed a chapter 7 in 2000 under old bankruptcy laws?
chapter 7 you can file every 8 years. chapter 7 lasts 10 years starting with the new laws in 2005. since you filed before 2005 your chapter 7 stays on your credit report 7 years as opposed to 10 years.
How long do you have to wait to file another chapter 7 if you filed one before the new bankruptcy laws took affect?
8 years from the date of discharge of the previous chapter 7.
What is the chapter 11 of the bankruptcy law all about?
The chapter 11 of the bankruptcy law permits reorganization under the bankruptcy laws of the United States of America. Chapter 11 is available to every business and to individuals, although it is mostly used by businesses.
Time between bankruptcy?
Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
How many years between bankruptcy filings?
10 years. Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
How soon after filing for a Chapter 7 Bankruptcy can you file another?
if your still in chapter 7 you have to get out first but you can file again check the laws in you state on chapter 7. laws has chang.
If You Filed chapter 7 in 2002 can i refile?
Under the new Bankruptcy laws you must now wait 8 years before filing another Chapter & or Total Bankruptcy as it is better know. You may be eligible to file if eligible a Chapter 13 to structure repayment to those creditors.
How long does a discharged bankruptcy remain on a credit report?
Accounts stay on your credit history for seven years. Bankruptcies stay on for ten. * New bankruptcy reform laws have no bearing on credit reportage. A discharged chapter 7 or 13 remain on the report for 10 years from discharge date. A dismissed chapter 7 remains for 10 years and a dismissed chapter 13 remains for 7 years.
When can you file a chapter 7 bankruptcy again if you got yours cleared January 2001?
Bankruptcy is not part of financial planning. Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
Can you file a chapter 13 bankruptcy after a chapter 7 that has been discharged. if not how long must i wait?
Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
