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Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
Title 4 - Flag and Seal, Seat of Government, and the States; Title 5 - Government Organization and Employees; Title 6 - Domestic Security; Title 7 - Agriculture; Title 8 - Aliens and Nationality; Title 9 - Arbitration; Title 10 - Armed Forces; Title 11 - Bankruptcy; Title 12 - Banks and Banking; Title 13 - Census; Title 14 - Coast Guard; Title ...
The Bankruptcy Reform Act of 1978 (Pub. L. 95–598, 92 Stat. 2549, November 6, 1978) is a United States Act of Congress regulating bankruptcy.. The current Bankruptcy Code was enacted in 1978 by § 101 of the Act which generally became effective on October 1, 1979.
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005; Long title: An Act to amend title 11 of the United States Code, and for other purposes. Acronyms (colloquial) BAPCPA: Nicknames: Bankruptcy Reform: Enacted by: the 109th United States Congress: Citations; Public law: Pub. L. 109–8 (text) Statutes at Large: 119 Stat. 23—217 ...
Under the federal constitution, there are no state bankruptcy courts. The bankruptcy laws are primarily contained in 11 U.S.C. 101, et seq. [1] The Bankruptcy Code underwent a substantial amendment in 2005 with the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005", often referred to as "BAPCPA". [2]
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
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Chapter 12 of Title 11 of the United States Code, or simply chapter 12, is a chapter of the Bankruptcy Code. It is similar to Chapter 13 in structure, but it offers additional benefits to farmers and fishermen in certain circumstances, beyond those available to ordinary wage earners. Chapter 12 is applicable only to family farmers and fishermen.