Bankruptcy

A Free Service Provided By www.FactsOfLaw.com
Home

 

 

Legal Topics

Arbitration and Mediation
Bankruptcy
Bextra
Car Accidents
Celebrex
Child Support
Child Custody & Visitation

Copyright Law
Criminal Law
Dangerous Drugs
Death
Divorce
DUI Drunk Driving

Elderly Laws
Employees' Rights
Estate Planning
Family Law
Fen-Phen
Immigration Law

Lawsuits
Lemon Law
Marriage
Medical Malpractice
Megan's Law
Meridia
Mesothelioma & Asbestos

Mold
Probate & Estates
Product Recalls
Real Estate

Statute of Limitations

Taxes & the IRS
Traffic Violations
Vioxx
Wills
Workers' Compensation
Work Related Injury

Privacy Policy

Contact Us

About Us

 
Facts - Books - News    U.S. Facts Of Law:


Bankruptcy Proceedings

There are several types of bankruptcy in the United States.  Bankruptcy proceedings under chapters 11 , 12 , and 13 allow for the reorganization of a debtor's debts allowing him/her to use future earnings to pay off creditors. Under chapter 7, 12, 13, and some 11 proceedings, a court appointed trustee supervises the liquidation of a debtor's assets to satisfy creditors. Chapter 11 bankruptcy proceedings are usually used by large corporations and are more complicated than those under chapter 13.  Bankruptcy proceedings may be voluntarily instituted by the debtor or, in some cases, involuntarily instituted by ones creditors.

Chapter 13 and chapter 12 bankruptcy are very similar.  However, the latter is only available to farmers and ranchers and allows for a larger amount of debt.  And, chapter 9 bankruptcy is available to municipalities who cannot meet their financial obligations.

Under recent changes to bankruptcy laws, debtors filing for chapter 7, liquidation, bankruptcy must wait eight years between separate filings.  It also stipulates that mandatory counseling classes be attended after the required online filing.

Prior to filing for bankruptcy bill collectors may not contact you at unreasonable hours at home and may not disclose your financial situation to your employer, friends or relatives.  They may not contact you at work either if they know your employer disapproves of such contact.  If you have retained an attorney they may only contact you through your attorney.

 

Bankruptcy Proceedings Best Sellers from Amazon.com

(no title)

 

Newsfeed display by CaRP

Bankruptcy Proceedings News
GN News

This RSS Feed URL Is Deprecated
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Bankruptcy Judge Rules Against Settlement Triggering GM Payout Update Fox B...
Bankruptcy Judge Rules Against Settlement Triggering GM Payout Update Fox Business In the current legal skirmish, the Old GM trust backed out of a settlement with plaintiffs and reached a separate deal with what39s often called New GM, the auto maker currently operating after emerging from bankruptcy proceedings in 2009. Under terms and more raquo

Walter Investment Bankruptcy Plan Approved By Court HousingWire
HousingWire Walter Investment bankruptcy plan approved by court HousingWire incoming members of our board, who will bring proven track records and new perspectives from both inside and outside our industry, and will play an important role in helping guide our company forward following our financial restructuring process and more raquo

Russia: New Rules Broaden Liability In Bankruptcy Cases Lexology
Russia: New Rules Broaden Liability in Bankruptcy Cases Lexology Under the new rules, in addition to the CEO, other top managers, including the CFO, COO and accountants, as well as liquidators and other persons who controlled or had significant influence over the bankrupt39s actions by kin or position, or could force

Report: Wyoming Counties Owed 42M In Unpaid Mineral Taxes Sacramento Bee
Report: Wyoming counties owed 42M in unpaid mineral taxes Sacramento Bee Wyoming39s bust hit schools and counties particularly hard. Losses came from fewer students filling chairs, fewer shoppers in local stores and fewer workers in oil and gas fields and coal mines. But often overlooked during a budget crisis is unpaid and more raquo

IMPORTANT NOTICE: This webpage is Copyrighted content.  No portion of this page may be copied to any other webpage, forum, blog or other domain page or offline publication without written permission from FactsOfLaw.com. Violators will be prosecuted to the fullest extent of the law.

The information provided by FactsOfLaw.com does not constitute legal advice or any other type of advice and is provided for educational purposes only without warranty of any kind. FactsOfLaw.com has not reviewed the information on this page for accuracy and is not responsible for any errors, omissions or inaccuracies.  For legal advice you should consult a licensed attorney.

 

Copyright All Rights Reserved - FactsOfLaw.com
No Portion of This Page May Be Copied Without Written Permission

Facts of Law explaining basic bankruptcy proceedings

Facts of Law - Bankruptcy Proceedings