| Creditor Claims |
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| A "claim" is a right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. A "claim" may also be the right to an equitable remedy for breach of performance if the breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured. A "debt" is a liability on a claim. More... |
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| Conversion and Dismissal of a Chapter 12 Case |
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| Chapter 12 specifically provides that a debtor may voluntarily convert a Chapter 12 bankruptcy case to a Chapter 7 bankruptcy or dismiss the case at any time. Creditors, however, may not seek the involuntary conversion of a debtor's Chapter 12 bankruptcy to a Chapter 7 bankruptcy unless fraud is shown in connection with the case. More... |
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| Chapter 11 Automatic Stay |
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| A Chapter 11 automatic stay comes into effect immediately upon the debtor's bankruptcy filing without the need for any court order. The stay helps to assure equality of distribution by preventing one creditor from seizing assets before others have had an opportunity to do the same. More... |
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| Chapter 13 and the Divorced or Separated Debtor |
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| Chapter 13 can help to cushion the financial impact of separation or divorce for one or both of the spouses. When payments on unsecured debts are no longer affordable, they may be stretched out and sometimes partially or even fully discharged.More... |
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| First Meeting of Creditors |
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| Under the Bankruptcy Code, the United States trustee must convene and preside at a meeting of creditors, which is often referred to as the section 341 meeting. This must occur within a reasonable time after the order for relief in a case.More... |
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