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.
A Chapter 13 bankruptcy is a bankruptcy case filed under Chapter 13 of the U.S. Bankruptcy Code. The Bankruptcy Code is part of Title 11 of the United States Code. Chapter 7 is titled âLiquidationâ. Some other sections of Title 11 apply to Chapter 13 Debtors even though the rules are in different chapters. For example: Chapter 1 defines who can be a debtor.