Bankruptcy

This is FindLaw’s collection of Bankruptcy articles, part of the Finance section of the Corporate Counsel Center. Bankruptcy law is federal statutory law contained in Title 11 of the United States Code. Congress passed the Bankruptcy Code under its constitutional grant of authority to "establish… uniform laws on the subject of Bankruptcy throughout the United States." Bankruptcy proceedings are supervised by and litigated in the United States Bankruptcy Courts. Find information about bankruptcy laws, including answers to some of the most frequently asked questions. Law articles in this archive are predominantly written by lawyers for a professional audience seeking business solutions to legal issues. Start your free research with FindLaw.

Finance

Bankruptcy Articles

Chapter 7 FAQ & Chapter 13 FAQ

Note:Personal property may not be converted from non-exempt to exempt in an effort to defraud creditors ...
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Chapter 7 vs. Chapter 13

If the non-bankruptcy alternatives are not feasible, most consumer debtors must choose between a liquidation proceeding under Chapter 7 of the Bankruptcy Code and a debt adjustment proceeding under Chapter 13 of the Bankruptcy Code. A brief ...
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Chapter 13 Case Dismissed for Lack of Eligibility

The Debtor (Lamar) formed a private investment club, in which members could participate by purchasing units. Seven years after the club was formed, it ran out of money. The members asserted claims totalling nearly $2 million. Lamar filed a Chapter ...
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Chapter 13 Reorganization

If your creditors are ruining your life, you have regular income, and you have a desire to pay your debts but are currently unable to do so, you may want to consider the relief offered by reorganizing your debts under Chapter 13 of the Bankruptcy ...
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Colorado Divorce Information

Divorce is often a painful experience in which our emotions sometimes overwhelm our better judgment. Some people just want to get it over with, at whatever cost. This is rarely in their best interest, either economically or emotionally. An attorney ...
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Common Sense and Law about Credit Cards

The leading cause of bankruptcy in the United States is credit card defaults. Many advertisements and sales pitches by implication, if not outright exhortation, encourage customers to run up big balances, as big balances make for high profits! Of ...
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Consumer Bankruptcy

Bankruptcy causes creditors to immediately stop action to collect a debt, or to repossess property or foreclose a mortgage without court permission. Comes in two varieties, Chapter 13 "Regular Income Plans" and Chapter 7 "Straight" Bankruptcy: Debts ...
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Cooley Godward LLP: The INS Reminds Lawful Permanent Residents to Renew Expiring Green Cards

The Immigration and Naturalization Service ("INS") has reminded lawful permanent residents who hold " Green Cards" (Form I-551 Permanent Resident Cards) issued approximately 10 years ago that their cards will be expiring in the near future, and has ...
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Corporate Bankruptcy

What happens when a public company files for protection under the federal bankruptcy laws? Who protects the interests of investors? Do the old securities have any value when, and if, the company is reorganized? We hope this information answers these ...
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Corporate Governance Redefined: The Sarbanes-Oxley Act of 2002 and Related Rulemaking

The Sarbanes-Oxley Act of 2002 (the "Act") responds to weaknesses in the U.S. capital markets revealed by the quickening pace of financial restatements and bankruptcies of several large, well-known public companies. Although most requirements by ...
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