U.S. Bankruptcy Code
The primary purposes of U.S. bankruptcy laws are:
|To give an honest debtor a "fresh start" in life by relieving the debtor of most debts.|
|To repay creditors in an orderly manner to the extent that the debtor has property available for payment.|
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.
The U.S. Bankruptcy Code is comprised of eight chapters.
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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