SCMA 323 Lecture Notes - Lecture 19: Secured Creditor, Automatic Stay, Community Property
30 Mar 2017
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Goal of federal bankruptcy law to grant a debtor relief from some of his or her burdensome debts while protecting creditors. Special federal courts that hear and decide bankruptcy cases: us trustee. Federal government official who is responsible for handling and supervising many of the administrative tasks of a bankruptcy case. Debtor must pre-petition counseling within 180 days prior to filing petition. Provided by nonprofit credit: filing the petition. Document filed with a bankruptcy court that starts a bankruptcy proceeding: voluntary petition. Filed by a debtor that states that the debtor has debts: involuntary petition. Filed by creditors of a debtor that alleges that the debtor is not paying his or her debts as they become due: order for relief. Order that occurs upon the filling of either a voluntary petition or an unchallenged involuntary petition, or an order that is granted after a trial of challenged involuntary petition: meeting of the creditor.
