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Protecting Your Constitutional Rights in US Bankruptcy Court
from: Deb St. George - HomelessInKingCounty.comThe US bankruptcy court is a federal court that administers the bankruptcy code. The USA Constitution authorizes Congress to create bankruptcy laws that are uniform, and a major law was passed in 1978. This uniform set of laws that were created were called the Bankruptcy Code. Naturally the laws have been changed or amended over the years, and the newest bankruptcy laws were enacted in October 2007.
Like any government institution, the US bankruptcy court has many codified procedures it must follow. The procedures are called Bankruptcy Rules and that is where you will find the rules related to handling individual and business debts. The rules are complex and cover a variety of different kinds of bankruptcies. But even with 6 types of bankruptcies called “chapters”, each bankruptcy is unique in its own way. That is why you should let an attorney handle your bankruptcy so that all of your rights are protected and you are assured of getting the best bankruptcy filing possible for your situation.
The US bankruptcy court will probably never be seen by most people filing a chapter 7 or chapter 13. In order to keep the court dockets cleared for more complicated cases and to prevent case backlogs, the court appoints a trustee to each bankruptcy case. The court has a bankruptcy judge who works for the district court system, but odds are you will only work with the trustee and your attorney. In fact, many times chapter 11 and chapter 12 cases are held outside the court too.
Of course, a creditor is given an opportunity to object to the discharge of the debt owed. In the case of chapter 7, most of the time the creditor who shows up at the trustee hearing represents the mortgage company. If you don’t have a house then there’s a good chance you will not hear any objections from creditors.
If you file a business bankruptcy and have creditors who want to take issue with your repayment plan then you might have to go to court. Also, a judge determines whether you will be allowed to file a chapter 7 or 13 in individual bankruptcy. If you are told you have to file a chapter 13, but are not happy with that decision, then you can appeal to the court by proving you have special circumstances that justify the chapter 7 filing.
Many individual bankruptcy filings are actually quite simple, but not all of them. The US bankruptcy court has all of the decision making power, but the goal is to give you a fresh start and free from as much debt as allowed under the law. Though you many not want to file bankruptcy, it is a good thing the US Constitution recognized that people can incur debt that gets out of hand. As a result of our forefather’s vision and understanding of human nature, you can find debt relief in a number of ways.
After Bankruptcy News
How to Improve Your Credit After Bankruptcy - Business Review USA (press release)
How to Improve Your Credit After Bankruptcy Business Review USA (press release) If you have filed for bankruptcy, you may wonder what your credit will look like after you obtain your discharge of debt. The good news is your credit can probably only improve. May 23, 2012 /24-7PressRelease/ -- If you have filed for bankruptcy, ... Chapter 7 Bankruptcy in 7 Steps: The Bankruptcy Discharge |
Starr County candidate denies bankruptcy history - Brownsville Herald
Starr County candidate denies bankruptcy history Brownsville Herald By GAIL BURKHARDT/The Monitor RIO GRANDE CITY — A Starr County commissioner candidate filed for bankruptcy seven years ago after he was hundreds of thousands of dollars in debt, including unpaid taxes. Jesus Maria “Chuy” Alvarez, who is running for ... Filings detail Starr County candidate's bankruptcy, tax history |
Obama campaign criticizes Romney on bankrupt auto supplier - The Detroit News
 The Grio | Obama campaign criticizes Romney on bankrupt auto supplier The Detroit News Cambridge filed for bankruptcy in May 2000 as part of a sale of the company to Meridian Automotive Systems. Allen Park-based Meridian cut more than 1000 jobs shortly after the sale. Bain Capital received at least $9.9 million in fees from Cambridge ... Obama's Southern Discomfort (The Note) Read the Fax Romney Sent to a Laid-Off Worker Cory Booker on Bain controversy: 'My loyalties are clear' |
Ford regains assets, including blue logo, after credit upgrade - CBS News
 USA TODAY | Ford regains assets, including blue logo, after credit upgrade CBS News Ford never stopped using its logo or factories, but posted them as collateral in 2006 in order to get a $23.5 billion loan and avoid bankruptcy. Executive Chairman Bill Ford, the great grandson of company founder Henry Ford, said Tuesday that giving up ... Ford to get blue oval back after second upgrade |
SAS weakened by Skyways bankruptcy - The Copenhagen Post
 Ukrainian News Agency | SAS weakened by Skyways bankruptcy The Copenhagen Post A Ukrainian billionaire is causing havoc in the Scandinavian airline industry after he closed two regional airlines in the past few weeks. Hundreds have lost their jobs and dozens of planes are grounded after Igor Kolomoisky closed Swedish Skyways ... Sweden's Skyways to file for bankruptcy after investor pulls out Swedish Regional Carrier Skyways To File For Bankruptcy Passengers stranded at Manchester Airport as Sweden-based City Airline collapses |
Del. judge disgusted with bankruptcy trust secrecy - Legal News Line
 Legal News Line | Del. judge disgusted with bankruptcy trust secrecy Legal News Line June's son Brian, who represented her estate after her April 2010 death, mentioned two bankruptcy settlements to Barnes on Nov. 5, the Saturday before a trial was to begin. "This is dishonesty at its highest level," Ableman said. |
After bankruptcy filing, company says Montco jobs safe - Bizjournals.com
 New York Times | After bankruptcy filing, company says Montco jobs safe Bizjournals.com Barclays is providing debtor-in-possession financing to allow the business to continue to operate while the bankruptcy makes its way through the courts. The Financial Times has more on that aspect of the Chapter 11 filing. The ResCap spokeswoman said ... S&P Lifts Ally Financial Outlook After ResCap Bankruptcy Filing Bankruptcy aims to free Ally of bad mortgage assets after auto rescue Ally to keep US auto loans after ResCap filing |