A Free Service Provided By



Legal Topics

Arbitration and Mediation
Car Accidents
Child Support
Child Custody & Visitation

Copyright Law
Criminal Law
Dangerous Drugs
DUI Drunk Driving

Elderly Laws
Employees' Rights
Estate Planning
Family Law
Immigration Law

Lemon Law
Medical Malpractice
Megan's Law
Mesothelioma & Asbestos

Probate & Estates
Product Recalls
Real Estate

Statute of Limitations

Taxes & the IRS
Traffic Violations
Workers' Compensation
Work Related Injury

Privacy Policy

Contact Us

About Us

Facts - Books - News    U.S. Facts Of Law:

Bankruptcy Proceedings

There are several types of bankruptcy in the United States.  Bankruptcy proceedings under chapters 11 , 12 , and 13 allow for the reorganization of a debtor's debts allowing him/her to use future earnings to pay off creditors. Under chapter 7, 12, 13, and some 11 proceedings, a court appointed trustee supervises the liquidation of a debtor's assets to satisfy creditors. Chapter 11 bankruptcy proceedings are usually used by large corporations and are more complicated than those under chapter 13.  Bankruptcy proceedings may be voluntarily instituted by the debtor or, in some cases, involuntarily instituted by ones creditors.

Chapter 13 and chapter 12 bankruptcy are very similar.  However, the latter is only available to farmers and ranchers and allows for a larger amount of debt.  And, chapter 9 bankruptcy is available to municipalities who cannot meet their financial obligations.

Under recent changes to bankruptcy laws, debtors filing for chapter 7, liquidation, bankruptcy must wait eight years between separate filings.  It also stipulates that mandatory counseling classes be attended after the required online filing.

Prior to filing for bankruptcy bill collectors may not contact you at unreasonable hours at home and may not disclose your financial situation to your employer, friends or relatives.  They may not contact you at work either if they know your employer disapproves of such contact.  If you have retained an attorney they may only contact you through your attorney.


Bankruptcy Proceedings Best Sellers from

(no title)


Newsfeed display by CaRP

Bankruptcy Proceedings News
GN News

This RSS Feed URL Is Deprecated
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at

Breitburn Energy Partners: Bankruptcy Proceedings Are Nearing Seeking Alpha
Breitburn Energy Partners: Bankruptcy Proceedings Are Nearing Seeking Alpha Breitburn39s bankruptcy proceedings appear to finally be coming to a close. Second lien bondholders will receive a strong recovery via ownership of Breitburn39s l. and more raquo

Toys AposRapos Us Founder Charles Lazarus Dies Amid Bankruptcy Proceedings F...
TIME Toys 39R39 Us founder Charles Lazarus dies amid bankruptcy proceedings Fox Business At its peak, Toys R Us was one of the largest retailers in the country, with billions of dollars in annual sales. The company39s business, however, has suffered in recent years amid the rise of competitors like Amazon and Walmart. Toys R Us filed Toy co. CEO leads effort to salvage Toys R Toy company CEO leads effort to salvage Toys 39R39 UsWCVB Boston Toy company CEO leads effort to salvage Toys R UsPress Herald all 439 news articles raquo

1 Year After Cameo Mass Shooting, Bankruptcy, Many Lawsuits, A Pending Trial ... 1 year after Cameo mass shooting, bankruptcy, many lawsuits, a pending trial A year after the mass shooting at the Cameo nightclub, its owner is in bankruptcy proceedings and remains entangled in a web of lawsuits. Two of the lawsuits one filed on behalf of a man killed by the gunfire and a second filed by eight people who

Salem Toys R Us To Close Amid Bankruptcy Proceedings Statesman Journal
Statesman Journal Salem Toys R Us to close amid bankruptcy proceedings Statesman Journal Salem39s Toys R Us is poised to close as the national toy retailer prepares to shutter all of its U.S. stores. Loading Post to Facebook. Salem Toys R Us to close amid bankruptcy proceedings Salem39s Toys R Us is poised to close as the national toy An update to ToysRUs39 bankruptcy proceedingsNintendo Wire Toys R Us tells court going out of business sales to begin immediately at all US Toys R Us to Honor Gift Cards for 30 DaysThe Epoch Times Washington Post Wall Street Journal all 2,085 news articles raquo

IMPORTANT NOTICE: This webpage is Copyrighted content.  No portion of this page may be copied to any other webpage, forum, blog or other domain page or offline publication without written permission from Violators will be prosecuted to the fullest extent of the law.

The information provided by does not constitute legal advice or any other type of advice and is provided for educational purposes only without warranty of any kind. has not reviewed the information on this page for accuracy and is not responsible for any errors, omissions or inaccuracies.  For legal advice you should consult a licensed attorney.


Copyright All Rights Reserved -
No Portion of This Page May Be Copied Without Written Permission

Facts of Law explaining basic bankruptcy proceedings

Facts of Law - Bankruptcy Proceedings