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The federal courts have exclusive jurisdiction over all bankruptcy cases. In most federal court districts, there is one special court, called bankruptcy court, charged with the sole responsibility of administering bankruptcies. If you and your attorney have decided that you will file for bankruptcy, or if you are a creditor seeking to... more »
Corporation bankruptcy laws are similar to personal bankruptcy regulations, but offer a major difference. Businesses can file for Chapter 7 bankruptcy, as many individuals do. But, they also may file bankruptcy under Chapter 11, which allows companies to continue operating while providing them with protection from creditors' actions.... more »
The rules of procedure associated with the United States Bankruptcy Court differ significantly on a number of levels from those associated with the civil and criminal trial courts in the federal judicial system. There is a separate Bankruptcy Code of Procedure that is followed in these types of cases. Within the Bankruptcy Code of... more »
What can you do when debts and bills are piling up and no money is coming in, your business is failing and you can't make ends meet? An option may be filing for bankruptcy.
There are several types of bankruptcies that can be filed. Here is a quick look at them, but, of course, consult with an attorney to make sure you are filing... more »
A Chapter 7 bankruptcy is also known as a liquidation bankruptcy because non-exempt assets are taken from the debtor and sold with the proceeds distributed to creditors based on their priorities. Those who seek Chapter 7 bankruptcy may lose some of their property in exchange for a discharge of debt. Debtors may file Chapter 7 if they... more »
Tired of struggling with expenses and having annoying phone calls regarding past due...
With mounting debt, some people or corporations have no option but to declare bankruptcy....
Declaring bankruptcy is one of the hardest things you'll ever have to do. In bankruptcy, you...
Almost everyone goes through times when their personal financial situation seems...
Bankruptcy court is a body of the federal government that allows consumers in all states plus the District of Columbia to petition for debt relief... more »
Bankruptcy is a method of avoiding payment of one’s debts. However, there are several instances in which you would want to reaffirm a debt... more »
Filing for bankruptcy is a regrettable event, but for many people, it is unfortunately necessary. When you accumulate so much debt that it becomes... more »
When debt becomes too much to handle, it's time to take action to resolve a serious financial situation. Bankruptcy can present a solution to the... more »
If you declare bankruptcy under Chapter 13, you will usually be expected to make payments over the course of 3 to 5 years in order to discharge... more »
United States bankruptcy courts are legislative courts which were created under Article I of the Constitution. They function as units of the district courts and have subject-matter jurisdiction over bankruptcy cases. Because the federal district courts have original and exclusive jurisdiction over all cases arising under the bankruptcy code, (see ), bankruptcy cases cannot be filed in state court. Each of the 94 federal judicial districts handles bankruptcy matters. The current system of bankruptcy courts was created by United States Congress in 1979.
The bankruptcy judges in each judicial district in regular active service constitute a "unit" of the applicable United States district court (see ). The bankruptcy judge is appointed for a term of 14 years by the United States court of appeals for the circuit in which the applicable district is located (see ).
Technically, the United States district courts have subject matter jurisdiction over bankruptcy matters (see ). However, each such district court may, by order, "refer" bankruptcy matters to the bankruptcy court (see ). As a practical matter, most district courts have a standing "reference" order to that effect, so that all bankruptcy cases in that district are handled, at least initially, by the bankruptcy court. In unusual circumstances, a district court may in a particular case “withdraw the reference” (i.e., take the case or a particular proceeding within the case away from the bankruptcy court and decide the matter itself) under .
The overwhelming majority of all proceedings in bankruptcy are held before a United States bankruptcy judge, whose decision in all matters is final, subject to appeals to the district court. In some judicial circuits, appeals may be taken to a Bankruptcy Appellate Panel ("BAP").
The Federal Rules of Bankruptcy Procedure (FRBP) govern procedure in the U.S. bankruptcy courts.
Decisions of the Bankruptcy Courts are not collected and published in a read more at » http://en.wikipedia.org/wiki/United+States+bankruptcy+court
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