Chapter 7 - Bankruptcy Basics This chapter of the Bankruptcy Code provides for "liquidation" - the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors.

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, …

This booklet contains general information about Chapter 7 of the U.S. Bankruptcy Code. While this information is accurate as of the date of publication, it should not be cited or relied upon as …

The Bankruptcy Code and Bankruptcy Rules (and local rules) set forth the formal legal procedures for dealing with the debt problems of individuals and businesses.

Answer: Chapter 7: Often called the liquidation chapter, chapter 7 is used by individuals, partnerships, or corporations who are unable to repair their financial situation. In chapter 7 …

An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect …

The chapter of the Bankruptcy Code providing for liquidation because non-exempt assets are taken from the debtor and sold with the proceeds distributed to creditors based on their priorities.

Can a debtor receive a second discharge in a later chapter 7 case? The court will deny a discharge in a later chapter 7 case if the debtor received a discharge under chapter 7 or …

In any event, if the debtor fails to make the payments due under the confirmed plan, the court may dismiss the case or convert it to a liquidation case under chapter 7 of the Bankruptcy Code. 11 …

A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and …