NCBankruptcy Lawyers.

February 06, 2012

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Federal & State Bankruptcy Laws

Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. The following is list of laws related to Bankruptcy:

Title 11 of The United States Code

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Did You Know?

Can Co-Signers Be Protected
If you file Chapter 7 bankruptcy, the creditor can proceed against your co-signers, according to the terms of the debt agreement. However, if you file a Chapter 13 debt adjustment, a co-signer is protected if the following conditions are met. The debt must be a consumer debt. Also, the debt may not be incurred in the ordinary course of business, and the co-signer cannot benefit from the proceeds of the debt.

	Newsroom
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Bankruptcy Terms

Today's Terms

Debtor-in-possession

Definition:
The debtor which remains in control of operations; as opposed to having a trustee operate the company.

Claims

Definition:
Rights to repayment made by creditors against a debtor; they may be liquidated, unliquidated, fixed, contingent, matured, unmatured, secured, unsecured, subordinated, legal or equitable.

Insolvency

Definition:
Another term used to describe a firm that is failing; generally it means that a firm's liabilities exceed its assets or that it is unable to satisfy its obligations as they come due.

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Bankruptcy Resources

Search Bankruptcy resources in our resource center:

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

North Carolina Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Apex
Asheboro
Asheville
Burlington
Cary
Chapel Hill
Charlotte
Clayton
Concord
Durham
Elizabeth City
Fayetteville
Fort Bragg
Garner
Gastonia
Goldsboro
Greensboro
Greenville
Henderson
Hickory
High Point

Jacksonville
Kernersville
Lenoir
Lexington
Lincolnton
Lumberton
Matthews
Monroe
Morganton
Mount Airy
Raeford
Raleigh
Reidsville
Sanford
Statesville
Thomasville
Wake Forest
Wilmington
Wilson
Winston Salem

Legal Disclaimers
All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on NC Bankruptcy Lawyers.com is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered. Your access to and use of this website is subject to additional Terms and Conditions.

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