| Chapter 13 Co-debtor Stay |
| Upon the entry of the order for relief under Chapter 13, the co-debtor stay automatically prohibits any act or civil action to collect any ''consumer debt'' from an individual liable with the Chapter 13 debtor or against an individual who has secured the debt, except where the co-debtor became liable or secured the debt in the ordinary course of the business of the co-debtor. More... |
| Voidable Transfers |
| The trustee in bankruptcy is a lien creditor and a successor to certain creditors and purchasers. As of the commencement of a bankruptcy case, the trustee or the debtor in possession has the rights and powers of the debtor and may avoid any transfer of property of the debtor or any obligation incurred by the debtor that is voidable by certain creditors and bona fide purchasers. This is known as "avoiding" powers. Such powers may be used to undo a transfer of money or property made during a certain period of time prior to the filing of the bankruptcy petition. More... |
| Chapter 12 Debtor and Trustee Powers |
| Chapter 12 provides that a standing trustee will be appointed in each case, but in the ordinary course, actual operation of the farm will remain with the debtor. Additionally, the debtor, as debtor in possession, has all rights, responsibilities, and powers, as would a debtor in possession under Chapter 11. Chapter 12 does not provide for the appointment of creditors' committees.More... |
| Can a Bankruptcy Debtor Keep his Home? |
| Under the Bankruptcy Code, a voluntary or involuntary case is commenced by filing a petition with the bankruptcy court. A Chapter 7 or 11 bankruptcy case may be initiated by a voluntary filing by the debtor or by an involuntary filing by the debtor's creditors. Cases under all other chapters may be initiated only by a voluntary petition. More... |
| Bankruptcy Discharge |
| Bankruptcy is a process created by federal law that provides relief for debtors, who can either eliminate their debts or repay their debts. Chapter 7 "liquidation" is the process by which debtors wipe out or "discharge" many of their debts. More... |
Henry M. Toles A Law Corporation
Bankruptcy Newsletter