Hawaii Chapter 11 — Eligibility for Discharge (Individual Debtor Certification) is a process that allows an individual debtor to obtain a court-ordered discharge of their debts, eliminating their personal liability for those debts. It is only available to eligible debtors who have successfully completed all of their required payments under their Chapter 11 repayment plan. There are two types of Hawaii Chapter 11 — Eligibility for Discharge (Individual Debtor Certification): 1. The first type of certification is the Pre-Discharge Certification, which is filed by the debtor before the completion of their repayment plan. This certification must include a statement of the debtor's financial condition and a list of creditors. 2. The second type of certification is the Final Discharge Certification, which is filed after the completion of the repayment plan. This certification must include a statement of the debtor's financial condition, a list of creditors, and a statement that all payments have been made as required by the plan. Both types of certifications must be filed with the court and must be approved by the court before a discharge can be granted.
Hawaii Chapter 11 - Eligibility for Discharge (Individual Debtor Certification)
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Total average monthly payment for all mortgages and other debts secured by your home. To calculate the total average monthly payment, add all amounts that are contractually due to each secured creditor in the 60 months after you file for bankruptcy. Then divide by 60.
Examples Of Chapter 11 Bankruptcy While Chapter 11 bankruptcies may appear to be a lot more successful than Chapter 7 situations, history shows that most companies entering Chapter 11 don't survive either. Less than 10% of Chapter 11 filings have actually been successful.
The purpose of the means test is to see that if the debtor is abusing the bankruptcy system by filing Chapter 7 bankruptcy cases even though they could afford to pay at least some of their debts. Therefore, the means test is mainly testing the ability of the debtor to pay the creditor(s).
To determine whether a presumption of abuse arises, all individual debtors with primarily consumer debts who file a chapter 7 case must complete Official Bankruptcy Form B22A, entitled "Statement of Current Monthly Income and Means Test Calculation - For Use in Chapter 7."
In order to confirm the plan, the court must find, among other things, that: (1) the plan is feasible; (2) it is proposed in good faith; and (3) the plan and the proponent of the plan are in compliance with the Bankruptcy Code.
Having your Chapter 7 bankruptcy denied can have serious consequences. You will become immediately liable for all your debts. In the case of fraud, the trustee may also be able to administer non-exempt assets, which means you could lose your property and still owe your debts.
Individuals or married couples can file for bankruptcy protection under Chapter 7 if they meet the Nevada ?means? test, meaning their income is below the state median income. If you qualify, your debts are discharged, which means they go away. You never have to pay back those credit card payments.
In a Chapter 11 case filed by an individual (i.e., a natural person), a discharge is granted by the court separately, after the completion of payments under the plan. A discharge is a court order relieving the debtor from liability for certain debts.