When a Chapter 13 debtor dies, the bankruptcy case does not automatically end. The outcome depends on who the debtor’s estate is, whether the debtor’s death triggers a “cause” to dismiss or convert the case, an...
A “bankruptcy unsecured creditor” is a person or business that is owed money by a debtor who has filed for bankruptcy, but the debt is not backed by collateral (no lien or secured interest). Examples can includ...
“Bankruptcy secured creditor” refers to a creditor who is owed money by a debtor who has filed for bankruptcy, and whose claim is “secured” by collateral (such as a car, property, or other assets). Because the...
“Chapter 7 bankruptcy debtor education course” refers to a required financial education program for people who file for Chapter 7 bankruptcy in the United States. The goal is to help debtors understand budgetin...
Chapter 11 bankruptcy is a U.S. legal process that allows a business (and in some cases individuals) to reorganize its debts rather than liquidate immediately. The debtor typically proposes a plan to restructur...
“Chapter 11 bankruptcy secured creditors” refers to creditors who are owed money and have a legal claim backed by collateral (a “security interest,” such as a lien on property or equipment) in the context of a...
In a Chapter 7 bankruptcy, a court-appointed trustee liquidates non-exempt assets and distributes the proceeds to creditors according to the Bankruptcy Code’s priority rules. Creditors generally have the right...
“Bankruptcy creditor proof of claim” refers to a form and process used by a creditor to formally notify the bankruptcy court that the creditor believes the debtor owes money, and to request that the claim be al...
In a Chapter 7 bankruptcy, unsecured creditors generally get paid only if there are non-exempt assets available after paying required bankruptcy expenses and secured claims. If the bankruptcy estate has little...
In U.S. Chapter 7 bankruptcy, most unsecured debts (like credit cards, medical bills, personal loans, and many past-due utility balances) are typically discharged—meaning the debtor is no longer legally require...
In many cases, once Chapter 7 bankruptcy is filed (and the automatic stay takes effect), most creditors cannot continue collection efforts against you. After the bankruptcy case is completed, the court may disc...
“Is bankruptcy debt relief” usually means whether filing for bankruptcy can help reduce or eliminate certain debts. In the U.S., bankruptcy is a legal process that may discharge (wipe out) qualifying debts, res...
