Property Insurance. One type of policy that for most people that is actually mandatory to have is homeowners insurance when you have a mortgage. If you borrow money from the bank to purchase a home they will require the asset to be insured. For many people,â this insurance premium is built into the mortgage payment.
Adversary Proceedings in Bankruptcy. An adversary proceeding in bankruptcy is a separate lawsuit filed within the bankruptcy case. Like most lawsuits, it starts when someone (the creditor, the bankruptcy trustee, or you) files a complaint. Many bankruptcies go through to completion and discharge without any adversary proceedings. But not so in others.
Discharge. A bankruptcy discharge means all actions to collect a debt must cease and the debtor gets a fresh start. In a Chapter 7 bankruptcy, if no one files an adversary proceeding and all objections are dealt with, the bankruptcy will be discharged. This usually happens about 10 to 12 weeks after the 341 meeting.In a Chapter 13 bankruptcy, the bankruptcy is discharged after the repayment plan is completed.ischarge. A bankruptcy discharge means all actions to collect a debt must cease and the debtor gets a fresh start. In a Chapter 7 bankruptcy, if no one files an adversary proceeding and all objections are dealt with, the bankruptcy will be discharged. This usually happens about 10 to 12 weeks after the 341 meeting.