How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

My husband is filing a chapter 11 prepackaged reorganization.

Resolved Question:

My husband is filing a chapter 11 prepackaged reorganization. Can he include a property settlement from our divorce decree in it?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

Hello,

 

Yes. A property settlement can be modified in a Ch 11

Customer: replied 7 years ago.

I thought that property settlement agreements from a divorce decree were exempt from being included in bankruptcy proceeding.

What can I do to protect my interests?

Expert:  Ellen replied 7 years ago.

Hello,

 

They cannot be discharged in a bankruptcy. However the court may allow the debtor to reorganize a property settlement if it is required for a sucessful plan. You will want to retain local counsel to protect your interests.

Customer: replied 7 years ago.
If they agree to reorganize a property settlement can they reduce the amount owed? Or can they just change the terms of payment?
Expert:  Ellen replied 7 years ago.
Hello,

Just change the terms of payment.
Ellen and other Bankruptcy Law Specialists are ready to help you