Chapter 7 and Excusable Neglect

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Spokane Chapter 7 Attorney

A Spokane chapter 7 attorney will help you how you are going to discharge all you’re your debt and how you are able to qualify for it. You need an attorney who will do businesses with you and will do and handle things just for you.

People need to understand about chapter 7 first before applying for it. In order for them to understnad and be prepared, they have to understand the following important subjects which a Spokane chapter 7 attorney is going to explain to you:

Rule 3001(c): When a claim or an interest in property of the debtor securing the claim, is based on a writing, the original or a duplicate shall be filed with the proof of claim. If the writing has been lost or destroyed, a statement of the circumstances of the loss or destruction shall be filed with the claim.

Rule 3001(f): burden shifting, presumption of validity – A proof of claim executed an filed in accordance with these rules shall constitute prima facie evidence of the validity and amount of the claim; Once a proof of claim is filed and entitled to the presumption of 3001(f)… on its face, proof of claim is presumed to be valid; if it is challenged, the burden of proof is on the objector; if the challenge overcomes the burden shifts back to the original claimant.

 Rule 9006(b)(1): excusable neglect – court may waive deadlines in cases of excusable neglect. Now the question is, does this qualify as excusable neglect?

You will also be reminded by your Spokane chapter 7 attorney about the factors the court considers: danger of prejudice to the debtor; length of the delay and its potential impact on the judicial proceedings; reason for the delay; whether it was within the reasonable control of the party and whether the party acted in good faith.

A claim is allowed unless a party in interest makes an objection § 502(a). If a party objects, the dispute is resolved as a contested matter under Rule 9014, unless the objection also makes a demand for a type of relief that converts the matter into an adversary proceeding under Rule 7001. You have to remember that all pre-petition claims must begin with a § 502 calculation.

Furthermore, in the § 502(b), claims are determined as of the date of the filing of the petition. As a general rule, only post-petition debts of the debtor are claims against the estate. Debts incurred by the debtor after the petitions are charges against the debtor’s fresh start estate.

These things are just few of the many things we have to consider in applying and filing for chapter 7 or liquidation bankruptcy. This thing would not be easy and simple for you because it requires a great deal of understanding and strong determination to be debt free.