bankruptcy lawyer

Bankruptcy Law

Bankruptcy laws protect troubled debtors and provide for orderly distributions to creditors through reorganization or liquidation. These procedures are covered under Title 11 of the United States Bankruptcy Code. Generally, a person's bankruptcy case commences when he or she files a voluntary petition. The vast majority of personal bankruptcy cases are filed under Chapter 7 and Chapter 13 of the Bankruptcy Code.

Bankruptcy cases are always filed in United States Bankruptcy Court and cannot be filed in state court. It is important to be aware, however, that most case specifics regarding the validity of claims and exemptions depend upon State law. Because state bankruptcy law plays such a major role in bankruptcy filings, it is often not possible to generalize bankruptcy law across state lines. To understand how state law applies to you, please consult our state bankruptcy page.

The two most commonly used bankruptcy provisions are Chapter 7, which is a discharge of the debt, or Chapter 13, which is a restructuring of the debt. To learn more about the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy, please see our Types of Bankruptcy page.