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Conversion and Dismissal in Bankruptcy
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Flashcards
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Failure to File Required Documents
A debtor's failure to file necessary documentation can result in case dismissal.
Failure to Make Plan Payments
In Chapter 13, not making required plan payments may lead to case dismissal or conversion to Chapter 7.
Unrealistic Repayment Plan
In a Chapter 13 case, proposing a repayment plan that's unrealistic can lead to conversion or dismissal.
Debtor's Request for Conversion
A debtor may convert their case to another chapter, which may result in a different set of bankruptcy provisions applying.
Best Interest of Creditors
A case may be converted or dismissed if the court decides it's in the best interest of the creditors.
Failure to Pay Filing Fees
Not paying required court fees can lead to the dismissal of the bankruptcy case.
Fraudulent Concealment of Assets
Dismissal or conversion can occur if a debtor is caught fraudulently concealing assets to evade creditor claims.
Failure to Complete Credit Counseling
Bankruptcy cases can be dismissed if the debtor fails to complete mandatory credit counseling prior to filing.
Disqualification After Means Test
Failing the means test can disqualify a debtor from Chapter 7, leading to conversion to Chapter 13 or dismissal.
Bad Faith Filing
The court may dismiss a case or convert it to another chapter if the filing is deemed to be in bad faith.
Failure to Cooperate With Trustee
Non-cooperation with the bankruptcy trustee can result in dismissal of the case.
Ineligibility for Chapter 7 Discharge
If a debtor is found to be ineligible for a Chapter 7 discharge, the case may be dismissed or converted to another chapter.
Substantial Abuse of Chapter 7
A Chapter 7 case may be converted to Chapter 13 if there's 'substantial abuse', typically related to income and expenses.
Failure to Attend 341 Meeting
Absenteeism from the mandatory meeting of creditors can cause case dismissal.
Change in Financial Circumstances
Significant positive or negative shifts in a debtor's financial situation may warrant case conversion or dismissal.
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