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The main reasons a bankruptcy filing could be turned down

When you file for bankruptcy in Florida, you could have your filing rejected. There’s no guarantee it’s going to be accepted, even if you’re sure that it’s the right option for you. It’s important to know why it could be rejected so that you can plan around it and give yourself the best possible chance at an acceptance.

1. You don’t turn in all of the right tax documents. This is a rigid process. You need to follow every step and turn in every document that is requested. If the court doesn’t have enough information, you could be rejected on those grounds, even if you would have been eligible for bankruptcy otherwise.

For examples, with Chapter 13 bankruptcy, the court needs to see your tax returns for the last four years.

2. You don’t go to the meeting. You are supposed to meet with your creditors are the beginning of the process. You must attend this meeting. The creditors may not show up, but you have to be there.

3. Your repayment plan simply won’t work. The thing about Chapter 13 bankruptcy is that you will be paying the creditors back over time, according to the new plan that is laid out. If you propose something that is clearly impossible, it’s not going to be granted.

4. You filed for bankruptcy too recently. You can’t use bankruptcy over and over in a short time period. While it can be used more than once, you have to get through the waiting period before filing again.

If your filing has been rejected, be sure you know why so that you can correct it.

Source: Daily Finance, “Bankruptcy Blunders: Top Reasons Your Bankruptcy Filing May Be Rejected,” Lynnette Khalfani-Cox, accessed Dec. 30, 2015

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