top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Involuntary BK Question

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Involuntary BK Question

    Does anyone know why an involuntary BK petition only shows up under Chapter 7 and 11? From researching various sites on the web, it appears that creditors cannot get together and force you into a BK 13? Why does this appear to be the case?

    What would happen to someone who only qualifies for a BK 13 under the means test, but creditors, etc attempt to force a BK 7? Can this happen?

    Is involuntary BK a tool used to sell off a debtors assets under a 7 or 11?

    I'm curious?

    #2
    Tree from my understanding the purpose of an involuntary petition is to seek liquidation of the debtors assets to pay the creditors to the best o his ability. That would be why you don't see a 13 option.
    May 31st, 2007: Petition Filed by my lawyer
    July 2nd, 2007: 341 Meeting Held
    September 4th, 2007: Discharged and Closed.

    Comment


      #3
      The easy answer is, th BK code does not allow an involuntary petition for a chapter 13 (Section 303).

      As to the "why", JRScott's answer is sufficient.

      Comment

      bottom Ad Widget

      Collapse
      Working...
      X