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Avoid Mistakes When Planning and Filing Virginia Bankruptcy Cases
The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.
Free - 2010 Bankruptcy Strategies Explained
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"California Bankruptcy Filing Fee"
All California bankruptcy cases require payment of a filing fee as a condition for filing the petition.
Debtors may pay filing fees in installments when supported by an official application. Failure to pay installments can, and probably will, result in
dismissal. Once the clerk accepts the filing fee and assigns a case number, deadlines begin counting downward.
| The Uniform Local Bankruptcy Rules, under Rule 6 (b)(1) provide "Every
petition shall be accompanied by the prescribed filing fee except as provided in subdivision (b)(2) of this
rule. [See Rule 1006, Federal Rules of Bankruptcy Procedure and schedule of fees in 28 U.S.C. 1930(a), as
amended.] The clerk shall collect such filing fees as well as all other statutory fees and charges provided
by Chapter 123 of Title 28, United States Code. |
The California Bankruptcy Courts adopted new statutory limits (dollar amounts) within Title 11 of the U.S.
Code. Section 109(e) - the allowable debt limit for unsecured debt is increased to $307,675. The allowable
debt limit for secured liabilities is increased to $922,975. The minimum aggregate claims need to commence an
involuntary petition under Section 303(b) is increased to $12,300. Exemptions provided by Section 522 are also
increased. The maximum value of homestead equity that may be claimed is increased to $18,450. Other exemption
increases include paragraphs (2) through (8). Luxury goods and services obtained within 60 days before filing
are nondischargeble, if exceeding the newly amended amount of $1,225. These amounts are adjusted automatically
by California bankruptcy courts every three years.
Back to California Bankruptcy words & phrases.
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