Chapter 7 - Individual Bankruptcy

Chapter 7 - Individual Bankruptcy
Chapter 7 - Individual Bankruptcy
A petition designed to liquidate the debtor's property, pay off his or her creditors, and discharge the debtor from his or her other debts (Legal Dictionary: Bankruptcy Law)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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  • Chapter 13 — bankruptcy proceedings for an individual with the intention of rescheduling the individual s debt (rather than liquidating the individual s assets and debt; an individual files under Chapter 7 to liquidate), Chapter 13 is referred to as… …   Glossary of Bankruptcy

  • Chapter 13 bankruptcy — The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income. Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years (BANKRUPTCY DICTIONARY OF TERMS)/. United… …   Glossary of Bankruptcy

  • bankruptcy trustee — A private individual or corporation appointed in all chapter 7, chapter 12, and chapter 13 cases to represent the interests of the bankruptcy estate and the debtor s creditors (SA Bankruptcy.com) A private individual or corporation appointed in… …   Glossary of Bankruptcy

  • Bankruptcy Reform Act of 1994 — the most comprehensive piece of bankruptcy legislation since the Bankruptcy Reform Act of 1978; signed into law on October 22, 1994 with most provisions effective immediately; included in the 1994 Act are: provisions to expedite bankruptcy… …   Glossary of Bankruptcy

  • bankruptcy estate — all legal or equitable interests of the debtor in property at the time of the bankruptcy filing. The estate includes all property in which the debtor has an interest, even if it is owned or held by another person (Glossary of Common Bankruptcy… …   Glossary of Bankruptcy

  • individual with regular income — Under Title 11 U.S.C. Section 101: (30) The term individual with regular income means individual whose income is sufficiently stable and regular to enable such individual to make payments under a plan under chapter 13 of this title, other than a… …   Glossary of Bankruptcy

  • Chapter 7, Title 11, United States Code — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court  …   Wikipedia

  • Chapter 13, Title 11, United States Code — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court  …   Wikipedia

  • Chapter 11, Title 11, United States Code — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court  …   Wikipedia

  • Chapter 12, Title 11, United States Code — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court  …   Wikipedia

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