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Attorneys who dabble in a little of everything are likely not aware of the granular aspects of bankruptcy law or up to speed with the latest legal developments in this area of practice.
Image source: Getty Images. For many years, I was a bankruptcy lawyer. As opposed to when I practiced litigation (suing people and defending lawsuits), bankruptcy was a dream practice.
The Bankruptcy Act of 1898 (Act of July 1, 1898, ch. 541, 30 Stat. 544) was the first permanent bankruptcy law and remained in effect until the passage of the Bankruptcy Reform Act of 1978 (Pub. L. 95–598, 92 Stat. 2549, November 6, 1978). The 1898 Act created "courts of bankruptcy" defined as the district courts of the United States.
Certain scholars and politicians have advocated for a reform of the law to allow states to seek bankruptcy. [6] [3] [4] They argue that the law will require voluntary consent by the state and will not give the federal government or creditors the power to force a bankruptcy; therefore it would not interfere with state sovereignty or be unconstitutional.
The courts hear civil and criminal cases, and each is paired with a bankruptcy court. [2] Appeals from the district courts are made to one of the 13 courts of appeals, organized geographically. The number of district courts in a court of appeals' circuit varies between one and thirteen, depending on the number of states in the region and the ...
Some student loan lawyers might offer a free consultation. If so, take advantage of it. An attorney can go over your options and let you know if bankruptcy is a viable option for your situation.
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