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What does post-petition mean in Chapter 13 bankruptcy?

What does post-petition mean in Chapter 13 bankruptcy?

Q: What is the difference between pre-petition and post-petition?

The main difference is the timing of the debts. Pre-petition debts are those incurred before filing for bankruptcy, while post-petition debts arise after the bankruptcy petition is filed. Post-petition debts must be paid to avoid complications, as they are not automatically discharged.

Q: What is the difference between pre and post-petition?

Pre-petition refers to debts incurred before filing for bankruptcy, whereas post-petition refers to obligations incurred after the filing. Understanding this distinction is crucial, as post-petition debts must be managed separately and are not included in the bankruptcy discharge.

Q: Are post-petition debts discharged?

No, post-petition debts are generally not discharged in bankruptcy. Debtors are responsible for these debts, and failure to pay them can lead to legal actions by creditors. It's important to stay current on post-petition obligations to maintain compliance with the bankruptcy plan.

Q: What is a post-petition mortgage payment?

A post-petition mortgage payment is a mortgage payment that becomes due after a debtor has filed for Chapter 13 bankruptcy. These payments are essential to keep the mortgage current and are not included in the bankruptcy discharge, meaning they must be paid on time.

Full question:

What is post-petition on a Chapter 13 bankruptcy proceeding? The statement states that from x month to x month the account is currently post-petition due.

Category: Bankruptcy
Date: 04/07/2025
State: Massachusetts

Answer:

Post-petition refers to the period after a debtor has filed for bankruptcy. Post-petition payments are those that are due after the bankruptcy petition is filed. These payments are owed to creditors for obligations incurred after the bankruptcy filing and may be subject to relief from the automatic stay if not paid on time by the debtor.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What does pre-petition mean?

Pre-petition refers to the period before a debtor files for bankruptcy. During this time, any debts incurred are considered pre-petition debts. These debts are typically included in the bankruptcy filing and may be discharged, depending on the type of bankruptcy and specific circumstances.