| 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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| Social Security and other benefits, Retirement Accounts in Chapter 7 |
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| What is Chapter 7 bankruptcy?More... |
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| Estate Property |
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| The commencement of a voluntary, joint, or involuntary bankruptcy petition automatically creates an "estate." The estate is comprised of all the property that is described in section 541 of the Bankruptcy Code. It includes all legal or equitable interests of the debtor in property, wherever located, as of the commencement of the case. To determine a debtor's rights in property, a court examines state law.More... |
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| The Bankruptcy Estate |
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| The filing of a bankruptcy petition for an individual debtor under Chapter 7 or Chapter 11 of the bankruptcy code creates a separate taxable bankruptcy estate. The bankruptcy estate consists of all of the debtor's legal or equitable interests in property as of the filing date.More... |
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| Chapter 9 Eligibility |
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| Only a "municipality" can file for relief under chapter 9. The term "municipality" is defined in the Bankruptcy Code to mean a political subdivision or public agency or instrumentality of a State. The definition is broad enough to include cities, counties, townships, school districts, and public improvement districts. It also includes revenue-producing bodies that provide services that are paid for by users rather than by general taxes, such as bridge authorities, highway authorities, and gas authorities. More... |
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