FLINT BANKRUPTCY SERVICE ARE OFFERED BY FLINT BANKRUPTCY LAWYER TERRY BANKERT 235-1970
Genesee County Bankruptcy cases in Michigan are governed by the U.S Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, and detailed local rules. Cases are adjudicated by Genesee County Bankruptcy judges appointed in each district court. Genesee County Bankruptcy judges may hear and decide all core proceedings, i.e., those that are integral to the core Genesee County Bankruptcy function of restructuring Flint or Genesee County debtor-creditor rights. However, in noncore proceedings, the Genesee County Bankruptcy judge may only submit proposed findings of fact and conclusions of law to the district court. Appeals from final orders and judgments of Genesee County Bankruptcy courts are heard by federal district courts or Genesee County Bankruptcy appellate panels (BAPs).
For additional information contvat Bankruptcy Lawyer Terry Bankert http://www.attorneybankert.com
A Genesee County Bankruptcy case is commenced when a Flint or Genesee County debtor files a voluntary petition or is forced into Genesee County Bankruptcy by an involuntary petition.
When you seek Genesee County Bankruptcy relief, we must select the chapter best suited to your needs. In most cases involving individuals, that will be either Chapter 7 or Chapter 13, unless you are a family farmer or family fisherman eligible for relief under Chapter 12. Involuntary petitions may be filed under Chapters 7 and 11; there is no such thing as an involuntary Chapter 12 or 13 petition. Farmers and charitable corporations may not be forced into involuntary Genesee County Bankruptcy.
Once a Genesee County Bankruptcy petition is filed and the case is commenced, a new entity called the estate is created. The estate consists of all of the Flint or Genesee County debtor’s interests in real and personal property as of the date the petition is filed. The Flint or Genesee County debtor, his or her trustee, and their attorneys are the persons primarily responsible for administering this estate.
The Flint or Genesee County debtor must cooperate with the trustee in the execution of the trustee’s statutory duties, file certain documents, and attend and submit to examination under oath at the creditors’ meeting. In Chapter 7, 12, and 13 cases, the U.S. trustee appoints a trustee to administer the assets of the Flint or Genesee County debtor for the benefit of creditors.
The Chapter 7 trustee’s primary duty is to reduce all nonexempt property to cash as quickly as possible and distribute the money to creditors. Chapter 12 and 13 trustees are primarily responsible for analyzing proposed payment plans and ensuring that Flint or Genesee County debtors comply with the terms of their confirmed plans, especially the payment provisions.
Exempt property is not subject to distribution by the trustee; it forms the basis of the individual Flint or Genesee County debtor’s fresh start.
Once the Genesee County Bankruptcy petition is filed, the Flint or Genesee County debtor’s exempt property, and property of the estate are all protected by automatic stay provisions.
This protection gives the Flint or Genesee County debtor a breathing spell from his or her creditors by stopping all collection efforts, harassment, and foreclosure actions. However, criminal proceedings and actions taken by governmental units to enforce their police or regulatory power may continue.
Once the trustee or Flint or Genesee County debtor-in-possession collects and liquidates the nonexempt property of the estate, the resulting proceeds are distributed to holders of claims.
Claims are classified as secured, unsecured, or priority. A secured claim is one that has a valid and perfected lien or a security interest in property of the estate as collateral. Unsecured claims are those not collateralized by any property of the estate or resulting from the undersecured status of a secured creditor.
The aim of a Chapter 7 Genesee County Bankruptcy case is to give the honest Flint or Genesee County debtor a fresh start in life by discharging most of his or her debts and allowing the Flint or Genesee County debtor to retain his or her exempt property. The entry of a discharge order relieves the Flint or Genesee County debtor of all personal liability on any debts dischargeable under the Bankruptcy Code and acts as an injunction against creditors’ actions to collect discharged debts.
FLINT BANKRUPTCY SERVICE ARE OFFERED BY FLINT BANKRUPTCY LAWYER TERRY BANKERT 235-1970
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Genesee County Bankruptcy cases in Michigan are governed by the U.S Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, and detailed local rules. Cases are adjudicated by Genesee County Bankruptcy judges appointed in each district court. Genesee County Bankruptcy judges may hear and decide all core proceedings, i.e., those that are integral to the core Genesee County Bankruptcy function of restructuring Flint or Genesee County debtor-creditor rights. However, in noncore proceedings, the Genesee County Bankruptcy judge may only submit proposed findings of fact and conclusions of law to the district court. Appeals from final orders and judgments of Genesee County Bankruptcy courts are heard by federal district courts or Genesee County Bankruptcy appellate panels (BAPs).
For additional information contvat Bankruptcy Lawyer Terry Bankert http://www.attorneybankert.com
A Genesee County Bankruptcy case is commenced when a Flint or Genesee County debtor files a voluntary petition or is forced into Genesee County Bankruptcy by an involuntary petition.
When you seek Genesee County Bankruptcy relief, we must select the chapter best suited to your needs. In most cases involving individuals, that will be either Chapter 7 or Chapter 13, unless you are a family farmer or family fisherman eligible for relief under Chapter 12. Involuntary petitions may be filed under Chapters 7 and 11; there is no such thing as an involuntary Chapter 12 or 13 petition. Farmers and charitable corporations may not be forced into involuntary Genesee County Bankruptcy.
Once a Genesee County Bankruptcy petition is filed and the case is commenced, a new entity called the estate is created. The estate consists of all of the Flint or Genesee County debtor’s interests in real and personal property as of the date the petition is filed. The Flint or Genesee County debtor, his or her trustee, and their attorneys are the persons primarily responsible for administering this estate.
The Flint or Genesee County debtor must cooperate with the trustee in the execution of the trustee’s statutory duties, file certain documents, and attend and submit to examination under oath at the creditors’ meeting. In Chapter 7, 12, and 13 cases, the U.S. trustee appoints a trustee to administer the assets of the Flint or Genesee County debtor for the benefit of creditors.
The Chapter 7 trustee’s primary duty is to reduce all nonexempt property to cash as quickly as possible and distribute the money to creditors. Chapter 12 and 13 trustees are primarily responsible for analyzing proposed payment plans and ensuring that Flint or Genesee County debtors comply with the terms of their confirmed plans, especially the payment provisions.
Exempt property is not subject to distribution by the trustee; it forms the basis of the individual Flint or Genesee County debtor’s fresh start.
Once the Genesee County Bankruptcy petition is filed, the Flint or Genesee County debtor’s exempt property, and property of the estate are all protected by automatic stay provisions.
This protection gives the Flint or Genesee County debtor a breathing spell from his or her creditors by stopping all collection efforts, harassment, and foreclosure actions. However, criminal proceedings and actions taken by governmental units to enforce their police or regulatory power may continue.
Once the trustee or Flint or Genesee County debtor-in-possession collects and liquidates the nonexempt property of the estate, the resulting proceeds are distributed to holders of claims.
Claims are classified as secured, unsecured, or priority. A secured claim is one that has a valid and perfected lien or a security interest in property of the estate as collateral. Unsecured claims are those not collateralized by any property of the estate or resulting from the undersecured status of a secured creditor.
The aim of a Chapter 7 Genesee County Bankruptcy case is to give the honest Flint or Genesee County debtor a fresh start in life by discharging most of his or her debts and allowing the Flint or Genesee County debtor to retain his or her exempt property. The entry of a discharge order relieves the Flint or Genesee County debtor of all personal liability on any debts dischargeable under the Bankruptcy Code and acts as an injunction against creditors’ actions to collect discharged debts.
FLINT BANKRUPTCY SERVICE ARE OFFERED BY FLINT BANKRUPTCY LAWYER TERRY BANKERT 235-1970
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