OxyContin-maker Purdue Pharma and its owners, the Sackler family, offered a $10 billion to $12 billion deal to settle around 2,000 opioid lawsuits, according to a report by NBC News citing unnamed.
chapter 13 The chapter of the bankruptcy code providing for adjustment of debts of an individual with regular income. (Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.)
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Chapter 7, known as a "straight bankruptcy" involves the discharge of certain debts without repayment. Chapter 13, involves a plan of repayment of debts over a period of years. Whether a person qualifies for Chapter 7 or Chapter 13 is in part determined by income. As many as 65% of all U.S. consumer bankruptcy filings are Chapter 7 cases.
Local Rule 9014.1. NEGATIVE NOTICE PROCEDURE (a) In chapter 7 or 13 cases, the following motions, objections, and other matters may be considered by the Court without an actual hearing under the negative notice procedure described in this rule, if no party in interest requests a hearing:
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We’ve got some updates and some stories we think you should read this week about debt, bankruptcy and profiting off the poor: The city of Chicago used to immediately return impounded vehicles to.
Chapter 13 bankruptcy is a repayment plan that allows the debtor to cure defaults on home mortgages, pay taxes, and discharge debts not dischargeable in Chapter 7 while protected from collection action.. Throughout the case, the debtor stays in possession and control of his assets.
Reaffirming debt in Chapter 7 bankruptcy or Chapter 13 bankruptcy. Filing for bankruptcy means that you will be relieved of an overwhelming debt burden, but in the process you may forfeit certain assets. To retain a major asset such as a car, the debt often needs to be reaffirmed through the bankruptcy court.
chapter 13 bankruptcy – wage earner’s plan only for individuals, and only a voluntary option exists debtor files a 5 year plan for the payment of creditors – this plan is a court protected debt repayment plan, @ the end of the plan, any debt unpaid is discharged
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While holding the matter in the bankruptcy court was appropriate when the couple filed for Chapter 13 bankruptcy in 2014, the remaining tax dispute should now be resolved in the Tax Court, the appeals.