| Disposable Income in Chapter 12 |
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| If a trustee or a holder of an unsecured claim objects to the plan, the court cannot approve the plan unless the plan provides that all of the debtor's projected disposable income to be received during the plan will be applied to make payments under the plan. It is significant to understand that an objection by the mentioned parties must be made for the court to consider this requirement. More... |
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| The "Clean Slate" of Chapter 7 Bankruptcy |
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| What is Chapter 7 bankruptcy? More... |
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| Case Closing and Reopening |
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| Bankruptcy Case Closing Defined More... |
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| Preferential Transfers |
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| A trustee in bankruptcy may avoid certain statutory liens, fraudulent transfers, as well as preferences. The Bankruptcy Code provides that certain transfers made by a debtor within close proximity of bankruptcy are preferential to the recipient and violate the Bankruptcy Code's policy of equal treatment of creditors. The elements of a so-called "preference" or "preferential transfer" are easy for a trustee in bankruptcy to prove. The defenses available to the creditor are limited and the cost to litigate can be high. More... |
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| 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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