| Case Commencement |
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| Under the Bankruptcy Code, a voluntary or involuntary case is commenced by filing a petition with the bankruptcy court. A Chapter 7 or 11 bankruptcy case may be initiated by a voluntary filing by the debtor or by an involuntary filing by the debtor's creditors. Cases under all other chapters may be initiated only by a voluntary petition. More... |
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| Secured Claims and Liens |
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| Secured claims include liens, security interests, security agreements, and secured claims. An allowed claim secured by a lien on property in which the estate has an interest, or that is subject to setoff, is a secured claim to the extent of the value of the creditor's interest in the estate's interest in the property or the amount subject to setoff. A secured claim carries the right to adequate protection of collateral. Unavoided liens survive bankruptcy but circumstances may demand action by a secured creditor to protect the lien. More... |
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| Chapter 11 Debtors in Possession |
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| Upon the filing of a voluntary petition for relief under chapter 11 or, in an involuntary case, the entry of an order for such relief, the debtor automatically assumes an additional identity as the "debtor in possession." The term refers to a debtor that keeps possession and control of its assets while undergoing a reorganization under chapter 11, without the appointment of a case trustee. More... |
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| Creditor Attempts to Collect Discharged Debt |
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| A debt no longer exists after it is discharged in bankruptcy. The court enters an order prohibiting the debtor's creditors from later attempting to collect any discharged debt from the debtor. More... |
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| Property Interests of Debtor and Other Family Members Affected by Bankruptcy Case |
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| Analysis of the extent and nature of the bankruptcy estate is essential to determining what will happen to a debtor's property in bankruptcy, a subject that is often of enormous importance to the debtor's spouse or former spouse and to other members of the debtor's family. More... |
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