The Bankruptcy Chapters–Chapter 7, 9, 11, 12, 13 Cases
You file bankruptcy most likely under Chapter 7 or 13, or possibly 11. Ch. 12 is for farmers and fisherman, Ch. 9 for governmental entities.
The Debtor, Creditor, Lawyers, Bankruptcy Clerk, Trustee, and Judge
Bankruptcy is a lot easier to understand and much more comfortable to go through when you know who's who.
Can “Priority” Debts Be Discharged in Chapter 7 Bankruptcy?
A bankruptcy trustee would pay your "priority" debts ahead of other debts in an "asset case." But what happens in a "no asset case"?
“Priority” Debts in Bankruptcy
What makes "priority" debts so special?
Debts Partly Paid but then Written off in Chapter 7
If you have an "asset" Chapter 7 case, some or all of your debts are partially paid, with most or all of the remaining amounts written off.
Surrendering Real Estate Other than Your Home in Bankruptcy
Chapter 7 writes off your mortgage debt, many other debts against the property, and potentially pays your "priority" debts as well.
Keeping Non-Home Real Estate through Bankruptcy
Whether you can keep other real estate depends first on whether it's "exempt."
Peace on Earth, Good Will to All: Merry Christmas!
Bankruptcy can bring you financial peace. And in that process you will likely be treated with respect and good will.
Bankruptcy Timing and the Holidays: Gift-Giving and “Fraudulent Transfers”
Gift-giving, or selling for much less than actual value, can cause problems ahead of bankruptcy, but only if it's a large gift.
Chapter 7 and Chapter 13–Exempt and Not Exempt Assets
Most of the time everything you own is exempt, meaning it's protected in a Chapter 7 bankruptcy. If not, Chapter 13 can usually protect it.
Making Sense of Bankruptcy: Avoid Dangerous “Preference” Payments
Be careful about trying to be nice and paying back relatives and friends in order to keep them out of your bankruptcy case.
Making Sense of Bankruptcy: Should You File a Chapter 7 or Chapter 13 Bankruptcy if You Want to Continue Operating Your Business?
If you have a business that you need to continue of operate, choosing the right form of bankruptcy involves risks and opportunities.
Making Sense of Bankruptcy: Should You File a Bankruptcy for Your Closed Business and a Separate One for You Personally?
With a recently closed or about to close failing business, you often can't and seldom need to file a bankruptcy for the business itself.
Making Sense of Bankruptcy: What Happens if My Chapter 7 Trustee Wants to Take Something from Me?
You may or may not care if the trustee takes an asset from you, you can fight and/or negotiate, or you can benefit from letting it happen.
Making Sense of Bankruptcy: What Is a No-Asset Chapter 7 Case?
Most people who file a Chapter 7 "liquidation" case don't have anything liquidated because everything they own is protected.