| An Overview of Bankruptcy |
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| Bankruptcy is a process created by federal law that provides relief for debtors, who can either eliminate or repay their debts. Federal law, rather than state law, governs bankruptcy proceedings, which take place in United States Bankruptcy Courts.
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| Adversary Proceedings |
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| Under Bankruptcy Rules, an adversary proceeding may be filed in a debtor's bankruptcy action for certain specific reasons. Creditors may initiate adversary proceedings to determine the validity or priority of a lien, to determine the validity of a debt, to obtain an injunction, or to subordinate a claim of another creditor.More... |
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| Conversion from Chapter 7 to Chapter 13 ... and Vice Versa |
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| There are two basic types of bankruptcy for an individual debtor or a consumer. The law for each type comes from "Chapters" in the federal Bankruptcy Code, which is the law that debtors and bankruptcy courts must follow. More... |
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| Creditor Claims |
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| A "claim" is a right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. A "claim" may also be the right to an equitable remedy for breach of performance if the breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured. A "debt" is a liability on a claim. More... |
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| Introduction to Chapter 7 "Straight" Bankruptcy |
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| Chapter 7 is a chapter or a group of sections of the federal Bankruptcy Code. These sections set forth the law that the United States Bankruptcy Courts and Chapter 7 debtors must follow. Chapter 7 includes provisions that are designed to protect both debtors and secured creditors. More... |
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