| Bankruptcy Discharge |
| Bankruptcy is a process created by federal law that provides relief for debtors, who can either eliminate their debts or repay their debts. Chapter 7 "liquidation" is the process by which debtors wipe out or "discharge" many of their debts. More... |
| Overview of Chapter 12 "Family Farmer" Bankruptcy |
| Chapter 12 is a part of a federal law called the Bankruptcy Code. Debtors and the United States Bankruptcy Courts must follow its provisions. Each Chapter applies to a different type of debtor. For example, Chapter 13 applies to consumers or individual debtors, with regular income who want to repay their debts under a bankruptcy plan. Chapter 12 applies to certain family farmers. More... |
| Chapter 11 Automatic Stay |
| A Chapter 11 automatic stay comes into effect immediately upon the debtor's bankruptcy filing without the need for any court order. The stay helps to assure equality of distribution by preventing one creditor from seizing assets before others have had an opportunity to do the same. More... |
| Chapter 9 Eligibility |
| Only a "municipality" can file for relief under chapter 9. The term "municipality" is defined in the Bankruptcy Code to mean a political subdivision or public agency or instrumentality of a State. The definition is broad enough to include cities, counties, townships, school districts, and public improvement districts. It also includes revenue-producing bodies that provide services that are paid for by users rather than by general taxes, such as bridge authorities, highway authorities, and gas authorities. More... |
| Creditor Attempts to Collect Discharged Debt |
| A debt no longer exists after it is discharged in bankruptcy. The court enters an order prohibiting the debtor's creditors from later attempting to collect any discharged debt from the debtor. More... |
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