Bankruptcy Laws

Bankruptcy Laws

A fundamental goal of federal bankruptcy laws is to give debtors a financial "fresh start" from burdensome debts.  Congress is authorized by the United States Constitution  to enact uniform bankruptcy laws. Under this grant of authority, Congress enacted the Bankruptcy Reform Act of 1978.  All bankruptcy cases filed after October 1st, 1979 are governed by this act.  The current U.S. Bankruptcy Code, which is codified as title 11 of the United States Code, has been amended several times since its enactment, most recently with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 .  The U.S. Bankruptcy Code is the uniform federal law that governs all bankruptcy cases.

Six basic types of bankruptcy cases are provided for under the U.S. Bankruptcy Code and are traditionally given the names of the chapters that describe them.

	Chapter 7 - Liquidation.
	Chapter 9 - Reorganization of Municipalities.
	Chapter 11 - Business Reorganization.
	Chapter 12 - Family Farming & Fishing Business Reorganization.
	Chapter 13 - Adjustment of an Individual's Debts.
	Chapter 15 - Insolvency Cases Involving Other Countries.

Where can I get legal advice about my Bankruptcy issue or case?

If you have a Bankruptcy Law issue or case and want legal advice for your specific situation, call the law firm below to schedule an initial consultation. 

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