| Chapter 13 and the Divorced or Separated Debtor |
| 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... |
| The Automatic Stay |
| Immediately after a debtor files a petition in a United States Bankruptcy Court to open or start a bankruptcy proceeding, an automatic stay goes into effect. Once this happens, the creditors can no longer take any action to collect debts from the debtor. More... |
| Chapter 12 Debtor and Trustee Powers |
| Chapter 12 provides that a standing trustee will be appointed in each case, but in the ordinary course, actual operation of the farm will remain with the debtor. Additionally, the debtor, as debtor in possession, has all rights, responsibilities, and powers, as would a debtor in possession under Chapter 11. Chapter 12 does not provide for the appointment of creditors' committees.More... |
| Employment Termination Based on Debtor Status |
| The law provides express prohibitions against discriminatory treatment of debtors by both governmental units and private employers. A governmental unit or private employer may not discriminate against a person solely because the person was a debtor, was insolvent before or during the case, or has not paid a debt that was discharged in the case. More... |
| Compensation for Professionals |
| The Bankruptcy Code provides the statutory authority for compensating the services and reimbursing the expenses of officers of the estate. These claims are afforded first priority in the distribution of an estate. The Bankruptcy Code prescribes the standards according to which the amount of compensation is to be determined. More... |
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