Each case is different. First, there must have been a Notice of Possible Dividends issued in the case to which you timely filed a proof of claim. Several months after the deadline to file claims has passed you may contact the Chapter 7 trustee and ask when the trustee anticipates making payments to creditors. Remember that in more complex cases or cases involving litigation, there may be many months of delay before payments may be made to creditors.

In the office of the clerk of the bankruptcy court in the district where the debtor has resided or maintained a principal place of business for the greatest portion of the last 180 days. The bankruptcy court is a federal court and is a unit of the United States district court. Yes. A husband and wife may file a joint petition under chapter 7. if a joint petition is filed, only one set of bankruptcy forms is needed and only one filing fee is charged.

Bankruptcy is a procedure brought in federal court. About 6 months after your case is filed, the bankruptcy court in the area where you reside will issue an Order declaring all your unsecured debts discharged. That means your unsecured creditors which you had before you filed bankruptcy will then forever be barred from contacting you ever again to collect on a debt.

Yes, as long as you continue to have full coverage car insurance and make your monthly car payment on time, and your equity does not exceed the Illinois exemptions.

There is no single answer to this question. Each case is unique and the length of time before you receive a dividend depends on the circumstances of the individual case. After the deadline for filing claims has expired, you should contact the case trustee and inquire as to the time frame for distribution of claim payments to creditors.

The trustee is an officer of the court, appointed to examine the debtor, collect the debtor's nonexempt property, and pay the expenses of the estate and the claims of creditors. In addition, the trustee has certain administrative duties in a chapter 7 case and is the officer in charge of seeing to it that the debtor performs the required duties in the case. A trustee is appointed in a chapter 7 case, even if the debtor has no nonexempt property.

Secured creditors are creditors with valid mortgages or liens against property of the debtor. Property of the debtor that is encumbered by a valid mortgage or lien is called secured property. A secured creditor is usually per-mired to repossess or foreclose its secured property, unless the value of the secured property greatly exceeds the amount owed to the creditor.

unsecured creditor is a creditor without a valid lien or mortgage against property of the debtor. If the debtor has nonexempt assets, unsecured creditors may file claims with the court within 90 days after the first date set for the meeting of creditors. The trustee will examine these claims and file objections to those deemed improper.

The debtor should immediately notify the bankruptcy court in writing of the new address. Because most communications between a debtor and the bankruptcy court are by mail, it is important that the bankruptcy court always have the debtor's current address. Otherwise, the debtor may fail to receive important notices and the chapter 7 case may be dismissed. Many courts have change-of-address forms for debtors to use when they move, and the debtor should obtain one if a move is planned.

A chapter 7 case begins with the filing of the case and ends with the dosing of the case by the court. If the debtor has no nonexempt assets for the trustee to collect, the case will most likely be dosed shortly after the debtor receives his or her discharge, which is usually about four months after the case is filed.

A discharge will be denied in a later chapter 7 case if the debtor has been granted a discharge under chapter 7 or chapter 11 in a case filed within six years before the second petition is filed.

Reaffirm the obligation with the secured creditor [both the debtor and creditor must agree to the reaffirmation]. Retain and keep current with creditor [a secured creditor with personal property for collateral may still be permitted to repossess the property should the debtor not reaffirm]. Redeem the property by paying the creditor the value of the collateral [only available with tangible personal property used for personal, family or household use].

This is often called a "straight" bankruptcy. Debtors usually receive their discharge soon after they file and they are allowed to keep any money they earn after they file. In Chapter 7, debtors are required to give up "non-exempt" property and laws in New Hampshire and Massachusetts have different requirements. Some debts will be dischargeable while others will not.

You can keep your house and your car as long as there is no equity in the house or vehicle and you are current on your loan payments, if any. In most cases you are able to keep all of your personal belongings. Illinois law allows you exemptions to protect most property from creditors. Consult an attorney at Leeders & Associates, Ltd. to discuss how the Illinois bankruptcy exemptions can protect your belongings.

If, after meeting with an attorney at Melvin J. Kaplan & Associates, P.C., it is determined that you do not have an equity position in your home that exceeds the Illinois statutory exemptions, you will be able to keep your home in a Chapter 7, as long as you continue to be current on your monthly mortgage payments.

The first court appearance is for a hearing called the "meeting of creditor." This hearing usually takes place about a month after the case is filed. At this hearing the debtor is put under oath and questioned about his or her debts and assets by the hearing officer or trustee. In most chapter 7 consumer cases no creditors appear in court; but any creditor that does appear is usually allowed to question the debtor.

A debtor may retain and redeem certain secured personal and household property, such as household furniture, appliances and goods, wearing apparel, and tools of trade, without payment to the secured creditor, if the property is exempt and if the mortgage or lien against the property was not incurred for the purpose of financing the purchase of the property.

The debtor's attorney performs the following functions in the chapter 7 case of a typical consumer debtor.. Analyze the amount and nature of the debts owed by the debtor and determine the best remedy for the debtor's financial problems.

Most debtors file for a complete discharge under Chapter 7. Chapter 13 is the repayment chapter. Some debtors will file a Chapter 13 in an attempt to save their home, by incorporating past due payments into the 5 year repayment. But beware, most of these plans fail with the debtors converting to a Chapter 7 anyway. Unless you have a good reason or are not eligible, most debtors should file Iowa bankruptcy under Chapter 7.