| Introduction to Chapter 9 "Municipality" Bankruptcy |
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| Some individuals, companies, or businesses consider filing for bankruptcy, usually as a last resort, when they are unable to pay their debts. About 1.5 million Americans filed for bankruptcy in 2002. That same year, nearly 40,000 businesses in the United States sought the protection of the bankruptcy laws in 2002. More... |
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| Voidable Transfers |
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| 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... |
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| Bankruptcy Reform - Will It Affect Eligibility? |
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| The battle over bankruptcy reform seems to be an ongoing struggle between the would-be reformers and those who feel that debtors' rights would be adversely affected by reform of the bankruptcy laws. Despite the differences in opinion, many lawmakers agree with creditors that loopholes in the law need to be closed. More... |
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| Dischargeable Debts |
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| Dischargeable debts are those debts that can be discharged through bankruptcy proceedings. A debtor is no longer personally liable to pay for dischargeable debts after the bankruptcy proceedings are concluded.More... |
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| Discharge of Indebtedness |
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| Discharge of indebtedness is the process by which a Chapter 7 debtor eliminates a debt during bankruptcy proceedings. A creditor or lender cannot collect a debt that has been discharged. More... |
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