| Overview of Chapter 12 "Family Farmer" Bankruptcy |
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| 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... |
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| Notices in Bankruptcy |
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| Creditors, equity security holders, the United States, and the United States Trustee in a bankruptcy case are entitled to receive various notices.More... |
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| Liability of a Bankrupt's Co-signer |
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| Bankruptcy is the legal process by which a debtor who is unable to pay his debts seeks to make a fresh financial start. Through bankruptcy, a debtor can either eliminate his debts or repay his debts. "Liquidation" is the process by which a debtor is rid of many of his debts. "Reorganization" is the process by which a debtor prepares a plan for the repayment of his debts. Federal law, rather than state law, governs bankruptcy proceedings, which take place in United States Bankruptcy Courts.
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| Bankruptcy Case Administration |
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| All bankruptcy proceedings are referred to a bankruptcy judge and all related papers, including the original petition, are filed with the Clerk of the Bankruptcy Court. The United States Bankruptcy Court has its own local rules governing procedures within that court. More... |
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| Meetings of Creditors and Equity Security Holders |
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| Section 341 of the Bankruptcy Code provides for meetings of creditors and equity security holders. The United States trustee is required to convene and preside at a meeting of creditors. In Alabama and North Carolina, where the bankruptcy system is administered by a bankruptcy administrator instead of a U.S. trustee, the bankruptcy administrator or his or her designee may preside at the meeting of creditors. The court is prohibited from presiding at or attending the creditor meetings. More... |
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