Legal News for Credit Union Managers Since 1990

Archive for October, 2010

19
Oct
2010

Substantial Abuse: Chapter 7 Bankruptcy Dismissed

CHAPTER 7 DISMISSED DUE TO DEBTOR’S SUBSTANTIAL ABUSE In this case the court dismissed debtor’s Chapter 7 bankruptcy after discovering that only 76% of the debts scheduled were “consumer debts” and that the debtor had sufficient income to support a Chapter 13 repayment plan. The Bankruptcy Code permits dismissal of a case if the debtor has committed […]

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