Chapter 13 bankruptcy allows you to create a three- to five-year repayment plan to catch up on your debts. If your case is dismissed, either by you or the bankruptcy court, prior to completion of the repayment plan, you will not receive a bankruptcy discharge, which erases the debts covered by your bankruptcy case and makes them unenforceable by your creditors. Due to the large volume of motions to reconsider dismissal of Chapter 13 cases (sometimes referred to as motions to reopen or motions to vacate dismissal) filed in recent years, Judge Waites, several months ago in association with the Chapter 13 Trustees who appear before him, implemented certain guidelines which are applicable to such motions. What is Chapter 13 Bankruptcy? Before exploring dismissal vs. discharge, it may be helpful to quickly summarize how a chapter 13 bankruptcy filing works. Unlike a chapter 7 filing that typically wipes out most (and in many cases all) debts, chapter 13 is essentially a year structured repayment plan.
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Enclose copies of all paperwork with each letter. Make a copy of each letter to the credit bureaus to keep for your records. Sign each letter. Enclose the copied paperwork with each letter and mail the letters certified mail with a return receipt requested. Send a letter to Equifax, P. Kathryn Hatter is a veteran home-school educator, as well as an accomplished gardener, quilter, crocheter, cook, decorator and digital graphics creator.
As a regular contributor to Natural News, many of Hatter's Internet publications focus on natural health and parenting. Hatter has also had publication on home improvement websites such as Redbeacon. If your bankruptcy is dismissed, follow up with the credit bureaus. Tips The credit bureaus must investigate the information in your letter within 30 days and issue a report to you about the results of the investigation.
If the credit bureaus remove the dismissed bankruptcy or add an addendum about the dismissal, you will get a copy of the amended credit reports. Creditors who pull your credit report in the future will see your statement explaining the dismissed bankruptcy.
Warning A dismissed bankruptcy will automatically remove the protection you had from creditors, enabling them to resume collections against you for money you owe. This credit situation might affect your credit negatively. Video of the Day. Brought to you by Sapling.
References FTC. About the Author Kathryn Hatter is a veteran home-school educator, as well as an accomplished gardener, quilter, crocheter, cook, decorator and digital graphics creator. Huber today. We will give you the facts you need to determine if filing for bankruptcy is in your best long-term financial interest. We have over 30 years of filing consumer bankruptcy cases. Our experience is your advantage, and we are here to help. The Law Office of Charles H.
Charles Rock Road in St. Ann, Mo. Toggle navigation Navigation. What is Chapter 13 Bankruptcy? What is Chapter 13 Dismissal? What is Chapter 13 Discharge? Free Telephone Consultation We would love to hear from you! Who Pays for a Bankruptcy? Northwest Plaza — St. Ann, Missouri chuberhc gmail.