An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect …

Answer: Chapter 7: Often called the liquidation chapter, chapter 7 is used by individuals, partnerships, or corporations who are unable to repair their financial situation. In chapter 7 …

There are different types of bankruptcies, which are usually referred to by their chapter in the U.S. Bankruptcy Code. Individuals may file Chapter 7 or Chapter 13 bankruptcy, depending on the …

The bankruptcy discharge varies depending on the type of case a debtor files: Chapter 7, 11, 12, or 13. Bankruptcy Basics attempts to answer some basic questions about the discharge …

In any event, if the debtor fails to make the payments due under the confirmed plan, the court may dismiss the case or convert it to a liquidation case under chapter 7 of the Bankruptcy Code. 11 …

A person appointed in a Chapter 7 case to represent the interests of the bankruptcy estate for the benefit of the debtor’s creditors. The trustee's responsibilities include reviewing the debtor's …

Under chapter 7, a trustee takes possession of all the debtor's non-exempt property, if any, liquidates it for cash and uses the proceeds to pay creditors according to priorities of the …

When a bankruptcy case is filed, the United States trustee assigns an impartial case trustee to administer the case and liquidate the debtor's nonexempt assets.

A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and …

An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect …