How do I avoid having my case dismissed in a Chapter 11 bankruptcy?

The best way to avoid having your case dismissed in a Chapter 11 Bankruptcy is to be proactive in understanding the requirements of the law. First, be sure to stay in contact and communicate regularly with your trustee, creditors, and creditors committee. This will show the court that you are actively working to resolve the issues of your bankruptcy case. Second, be prepared for court hearings and follow the deadlines. You should review the documents that were filed and be sure to respond within the stated time provided in the hearing notice. Any delay on your part may result in your case being dismissed. Third, be sure to submit your proposed repayment plan promptly. The plan should include all of the details of how you intend to repay your creditors and how you will manage your finances going forward. Your plan should also include any necessary additional documents such as financial statements, tax returns, and other necessary information. Fourth, work with your accountant to make sure all of your tax returns are filed on time. This is an important step because if your tax returns are not filed, your case may be dismissed for “failure to maintain adequate records.” Finally, keep your creditors updated on your progress. If you are making payments to creditors, make sure you communicate that to them. Doing so will show the court that you are serious about getting your debts settled and will help to avoid dismissal.

Related FAQs

How do I avoid having my case dismissed in a Chapter 11 bankruptcy?

Related FAQs

Related Blog Posts