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Missing a Chapter 13 bankruptcy payment can jeopardize the process. However, many trustees understand that financial difficulties can get in the way and are willing to work out an arrangement to ...
The case arose from the high-profile bankruptcy of Chrysler, in which the U.S. Treasury orchestrated a sale under Section 363 of the Bankruptcy Code to avoid the debtors' having to fully compensate a group of first lien priority creditors, which included roughly 100,000 retired teachers and police officers from Indiana.
On July 18, 2013, Detroit, Michigan became the largest city in the history of the United States to file for Chapter 9 bankruptcy protection. Jefferson County, Alabama, in 2011, and Orange County, California, in 1994, are also notable examples.
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]
Bankruptcy is designed to be a last resort when you have exhausted all other options. It stays on your credit report for years, making it difficult to reestablish your creditworthiness and access ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
Bankruptcy. The mere word can evoke shame, fear and dread -- and for good reason. When you file for bankruptcy, your credit score takes a major blow, possibly dropping as much as 240 points,...
This is a list of Supreme Court of the United States cases in the area of bankruptcy. This list is a list solely of United States Supreme Court decisions about applying law related to bankruptcy. Not all Supreme Court decisions are ultimately influential and, as in other fields, not all important decisions are made at the Supreme Court level.