What is good faith and why is it important in a chapter 13 bankruptcy?

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The term “good faith” is not defined in the bankruptcy code. Nonetheless, the code expressly requires that your chapter 13 petition be filed in “good faith” and that your chapter 13 plan be proposed in “good faith” (your petition is different than your plan); and your case may be dismissed if a creditor can show that you have not operated in good faith. Needless to say, good faith is required every step of the way in bankruptcy. As such, it pays to consult a trained eye to discern what a court could determine is not good faith, and what is permitted under the law. Feel free to give this office a call: George E. Bourguignon, Jr., Esq., tel: (413) 746-8008, www.bourguignonlaw.com.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© George Bourguignon, Law Office of George E. Bourguignon, Jr. | Attorney Advertising

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