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These duties include establishing a panel of private trustees to serve as trustees in chapter 7 cases and supervising the administration of cases and trustees in cases under chapters 7, 11, 12, and 13 of the Bankruptcy Code.
Individuals may file Chapter 7 or Chapter 13 bankruptcy, depending on the specifics of their situation. Municipalities—cities, towns, villages, taxing districts, municipal utilities, and school districts may file under Chapter 9 to reorganize. Businesses may file bankruptcy under Chapter 7 to liquidate or Chapter 11 to reorganize.
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 how to find the legal help you may need.
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 consumer debtors qualify for relief under chapter 7.
To view bankruptcy case records, you may visit a bankruptcy clerk’s office. Use the Federal Court Finder to find a location. You may also access bankruptcy case records online through Public Access to Court Electronic Records (PACER) .
Chapter 7 Filing Requirements. Often called the 'liquidation chapter,' Chapter 7 is used by individuals, partnerships, or corporations who have no hope for repairing their financial situation. In Chapter 7, the debtor's estate is liquidated under the rules of the Bankruptcy Code.
Notice of Chapter 7 Bankruptcy Case – No Proof of Claim Deadline Set (For Corporations or Partnerships) Meeting of Creditors Notices B 309D
Individual debtors in chapter 7 cases who meet certain financial requirements may apply for a waiver of the filing and certain other fees by filing Official Bankruptcy Form 103B “ Application to Have the Chapter 7 Filing Fee Waived ”. See information for chapter 7 fee waivers along with a link to the poverty guidelines that must be met in ...
Individuals can file bankruptcy without an attorney, which is called filing pro se. However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes. Filing personal bankruptcy under Chapter 7 or Chapter 13 takes careful preparation and understanding of legal issues.
Chapter 7 bankruptcy is designed to provide a fresh start for individuals whose income is insufficient to pay their debts. Chapter 7 bankruptcy is commonly referred to as Astraight bankruptcy@ or Aliquidation.@. In a Chapter 7 case, the debtor is permitted to exempt (or keep) certain property.