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Obtain and fill out bankruptcy forms. Download the official bankruptcy forms from the U.S. Courts website or your local bankruptcy court. Accurately complete all forms, including the Voluntary ...
Each United States Trustee, an officer of the Department of Justice, is responsible for maintaining and supervising a panel of private trustees for Chapter 7 bankruptcy cases (see ). The United States Trustee has other duties including the oversight of administration of most bankruptcy cases and trustees (see generally 28 U.S.C. § 586(a)(3) ).
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]
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
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A Bankruptcy Exemption defines the property a debtor may retain and preserve through bankruptcy. Certain real and personal property can be exempted on "Schedule C" [42] of a debtor's bankruptcy forms, and effectively be taken outside the debtor's bankruptcy estate. Bankruptcy exemptions are available only to individuals filing bankruptcy. [43]
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