The automatic stay will temporarily halt the lawsuit. If you receive a discharge of this debt, the creditor will be permanently barred from trying to collect on the amount owed. At that point, the creditor should dismiss the lawsuit.
Corporate chapter 7 bankruptcy cases rarely make sense. Creditors can now resume collection efforts and the corporate BK doesn't protect you from any personal liability that you might have to the corporate creditors.
Sometimes a corporate bankruptcy might make sense if you want a court supervised liquidation of assets prior to dissolving the company. Sometimes the psychological impact of a BK on the creditors might cause them to cease collection efforts. But without knowing more facts, I...
There is not way to get the bankruptcy off your credit report. You filed a bankruptcy and it will remain there for up to 10 years. You can try adding an explanation to you credit report to explain that you settled with your creditors and dismissed the case, but that's about it.
I'm not clear on why you think you are entitled to a refund of the legal fees. Bankruptcy is often the best way to get rid of a second mortgage because some do survive a foreclosure. Bankruptcy is almost always...
Corporations do not receive a discharge in Chapter, just a liquidation of assets. One option to consider might be a personal Chapter 7 to get rid of any personal liability you have for the corporate debts and forming a new corporation. This can be particularly attractive to owners of a service business where the value of the business is really the skill and reputation of the owners as opposed to the assets.
I cannot say if this would be a good option for you or not, so you should contact...
You should address these questions to your attorney. Attorneys often do extra work in the the case that wasn't covered by the base fee. if the court approves the fees, they would be paid from your plan payments and this could possibly extend your plan past May 2014. if you disagree with the fees, you need to let the judge know why and appear at the hearing.
Only an experienced bankruptcy attorney in your area can answer this question for you. In the context of a Chapter 7, you'll want to know if the trustee could take some or all of your settlement or even take over the case. In a Chapter 13, you would need to know how much you would have to pay to keep the claim out of the hands of your creditors. These require knowledge of the value of your claim and the exemptions available to protect your property.
You can start by going to www.nacba.com...
I completely agree with Mr. Steingraber. Corporations cannot receive a discharge in Chapter 7 bankruptcy and it rarely makes sense to file a Chapter 7 for a corporation. Also, a corporation does not need to complete any type of credit counseling.
Talk to a local bankruptcy attorney about your options. Corporations cannot file bankruptcy without an attorney and it probably isn't necessary.
The alleged tax evasion has little or nothing to do with your civil case. If you think the person is guilty of a crime, report it. They still have the right to sue you.
And as others have noted, the settlement judge is wrong on that issue.
You are signing you bankruptcy papers under the penalty of perjury can you need to list ALL of your debts. There is nothing wrong with paying your mother-in-law back down the road, Repaying her will not impact your case. However, I would not suggest making any more payments until after your file. Talk to your bankruptcy attorney about voidable preferences.