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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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If you are thinking about filing Chapter 7 or Chapter 13 bankruptcy, you are not alone. Complete the form below to contact a sponsoring bankruptcy lawyer. Ask all questions you deem important without cost or obligation of any kind. Free help is only a few minutes away.
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"California Chapter 13 Trustee"
All plans are subject to review by a California bankruptcy trustee. The duties of the trustee include reviewing
cases for legal compliance, recommending confirmation, modification, conversion or dismissal, and accounting for
all proceeds received from the plan.
| 11 U.S.C. §1302(a): "If the United States trustee appoints an individual under section
586(b) of title 28 to serve as standing trustee in cases under this chapter and if such individual qualifies under section
322 of this title, then such individual shall serve as trustee in the case. Otherwise, the United States trustee
shall appoint one disinterested person to serve as trustee in the case or the United States trustee may serve
as a trustee in the case." |
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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