Chapter 7 - Bankruptcy Basics - United States Courts
An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged …
Bankruptcy - United States Courts
There are different types of bankruptcies, which are usually referred to by their chapter in the U.S. Bankruptcy Code. Individuals may file Chapter 7 or Chapter 13 bankruptcy, depending on the …
Discharge in Bankruptcy - Bankruptcy Basics - United States Courts
The bankruptcy discharge varies depending on the type of case a debtor files: Chapter 7, 11, 12, or 13. Bankruptcy Basics attempts to answer some basic questions about the discharge available to …
Bankruptcy Basics - United States Courts
Find information about bankruptcy laws, including answers to some of the most frequently asked questions. These videos will give you basic information about the process, the relief it offers, and …
What is the difference between bankruptcy cases filed under chapters 7 ...
Answer: Chapter 7: Often called the liquidation chapter, chapter 7 is used by individuals, partnerships, or corporations who are unable to repair their financial situation. In chapter 7 asset cases, the debtor's …
Chapter 13 - Bankruptcy Basics - United States Courts
Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. If the debtor's current monthly income is less than the applicable state median, the plan …
Bankruptcy Basics Glossary - United States Courts
A person appointed in a Chapter 7 case to represent the interests of the bankruptcy estate for the benefit of the debtor’s creditors. The trustee's responsibilities include reviewing the debtor's petition …
Process - Bankruptcy Basics - United States Courts
Amendments to the Bankruptcy Code enacted in to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 require the application of a "means test" to determine whether individual …
Chapter 7 - Bankruptcy Basics | District Court for the Northern Mariana ...
An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged …
Chapter 11 - Bankruptcy Basics - United States Courts
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties …