If the U.S. trustee or bankruptcy administrator (5) schedules the meeting at a place that does not have regular U.S. trustee or bankruptcy administrator staffing, the meeting may be held no more than 60 days after the order for relief. For purposes of this publication, references to U.S. trustees are also applicable to bankruptcy administrators. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Test. Match. Much of the bankruptcy process is administrative, however, and is conducted away from the courthouse. Section 726 of the Bankruptcy Code governs the distribution of the property of the estate. Created by. In other jurisdictions, the individual debtor has the option of choosing between a federal package of exemptions or the exemptions available under state law. The bankruptcy administrator program is administered by the Administrative Office of the United States Courts, while the U.S. trustee program is administered by the Department of Justice. Basic Law Full Text - chapter (1) Chapter I General Principles. § 524(k). A fee is charged for converting, on request of the debtor, a case under chapter 7 to a case under chapter 11. Between 21 and 40 days after the petition is filed, the case trustee (described below) will hold a meeting of creditors. Understanding Chapter 7 Bankruptcy Counseling and Forms. The law, therefore, refers to classes of persons and classes of acts and things. Efficient algorithms have been developed that allow the dynamic computations to be carried out on-line in real time. The estate technically becomes the temporary legal owner of all the debtor's property. Administrative Oversight and Accountability, Chronological History of Authorized Judgeships - Courts of Appeals, Chronological History of Authorized Judgeships - District Courts. This is generally an as-is sale of everything. The title of the Chapter has been changed to reflect this. (2) The debtor may rebut a presumption of abuse only by a showing of special circumstances that justify additional expenses or adjustments of current monthly income. What is most useful is the knowledge of the basic laws of physics and skill in the analytical methods for applying them. Individual debtors with primarily consumer debts have additional document filing requirements. The bankruptcy judge may decide any matter connected with a bankruptcy case, such as eligibility to file or whether a debtor should receive a discharge of debts. § 502(b)(9). Under Chapter 7, you can eliminate most of your unsecured debts and some secured debts by surrendering your assets. Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. But filing the petition does not stay certain types of actions listed under 11 U.S.C. If the balance is not enough to pay the debt to be reaffirmed, there is a presumption of undue hardship, and the court may decide not to approve the reaffirmation agreement. 11 U.S.C. DUI Law. Chapter 7 bankruptcy is a legal process that can help individuals get relief from debts by discharging — or clearing — some or all of what’s owed. The debtor has no liability for discharged debts. In addition, no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. The Government of the Hong Kong Special Administrative Region shall be responsible for their management, use and development and for their lease or grant to individuals, legal persons or organizations for use or development. Street Law Chapter 5 The Court System . The discharge in a chapter 13 case is somewhat broader than in a chapter 7 case. There is no fee for converting from chapter 7 to chapter 13. These fundamental rights cannot be removed from the constitution, and no constitutional amendment may 'affect their essence'. Choose from 500 different sets of law chapter 2 basic flashcards on Quizlet. Fundamental rights (German: Grundrechte) are guaranteed in Germany by the Federal Constitution and in some state constitutions.In the Basic Law, most fundamental rights are guaranteed in the first section of the same name (Articles 1 to 19). 2 Basic Concepts What is law? Gravity. A Bankruptcy Judge? R. Bankr. 11 U.S.C. Most chapter 7 cases involving individual debtors are no asset cases. Within 10 days of the creditors' meeting, the U.S. trustee will report to the court whether the case should be presumed to be an abuse under the means test described in 11 U.S.C. The NPCSC has identified Articles 1 and 12 as the fundamental provisions of the Basic Law. (The Official Forms may be purchased at legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. Here you'll find overview articles explaining what bankruptcy is, the difference between Chapter 7 and Chapter 13 bankruptcy, how each type of bankruptcy works, and what bankruptcy can and cannot do. Chapter VII External Affairs Article 150 Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the Government of the People's Republic of China, participate in negotiations at the diplomatic level directly affecting the Region conducted by the Central People's Government. Chapter VII External Affairs . The debtor is only paid if all other classes of claims have been paid in full. 7. 11 U.S.C. Chapter VI Cultural and Social Affairs . sister projects: Wikipedia article, quotes, Wikidata item. The Constitution of the People's Republic of China. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Consent that is conveyed through spoken or written words is. The bankruptcy court will appoint an unbiased trustee to oversee the... Debt Repayment. The purpose of this page is to provide basic information about the key forms and procedures involved in filing for Chapter 7 bankruptcy. If you qualify, Chapter 7 bankruptcy may allow you to discharge a variety of debts, but typically excludes obligations like child support, student loans or … (The Official Forms may be purchased at legal stationery stores or download. If the trustee later recovers assets for distribution to unsecured creditors, the Bankruptcy Court will provide notice to creditors and will allow additional time to file proofs of claim. These forms prompt you to list all of your assets and all of your debts, along with some recent financial history.This is the most important and most time consuming part of a bankruptcy filingIt is important that every creditor is listed in the schedules with an accurate mailing address. Chapter 7: Financial Affairs Article 71 specifies that revenue is entered and spent according to rules of statutes which will be published regularly in the Official Gazette per Article 70. The bankruptcy law prevents people from repeatedly running up debts and having them discharged in bankruptcy court. The Bankruptcy Code requires that reaffirmation agreements contain an extensive set of disclosures described in 11 U.S.C. The court official with decision-making power over federal bankruptcy cases is the United States bankruptcy judge, a judicial officer of the United States district court. Under § 726, there are six classes of claims; and each class must be paid in full before the next lower class is paid anything. If you don't see any interesting for you, use our search form on bottom ↓ . § 1930(f). But if the case appears to be an "asset" case at the outset, unsecured creditors (7) must file their claims with the court within 90 days after the first date set for the meeting of creditors. Learn constitution law chapter 7 with free interactive flashcards. Under the rules enacted in 2005, the first step in figuring out whether you can file for Chapter 7 bankruptcy is to measure your "current monthly income" against the median income for a household of your size in your state. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property. §§ 701, 704. R. Bankr. § 707(a). The debtor should consult an attorney to determine the exemptions available in the state where the debtor lives. Chapter 7 is the most common form of bankruptcy. STUDY. 11 U.S.C. In addition, individual debtors who have regular income may seek an adjustment of debts under chapter 13 of the Bankruptcy Code. Chapter 7 bankruptcy is the most popular form of bankruptcy relief for individuals. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. If you don't see any interesting for you, use our search form on bottom ↓ . Terms in this set (9) Complicity. R. Bankr. In Chapter 7 bankruptcy, the bankruptcy trustee cancels many (or all) of your debts. § 1930(a); Fed. Test. Download chapter 7 activity basic concepts street law answer key document. Flashcards. Fed. These duties include establishing a panel of private trustees to serve as trustees in chapter 7 cases and supervising the administration of cases and trustees in cases under chapters 7, 11, 12, and 13 of the Bankruptcy Code. In order to accord the debtor complete relief, the Bankruptcy Code allows the debtor to convert a chapter 7 case to a case under chapter 11, 12, or 13 (6) as long as the debtor is eligible to be a debtor under the new chapter. Thus, the debtor will not be permitted to convert the case repeatedly from one chapter to another. The discharge eliminates debts in a similar fashion regardless of the city or state you file in. Chapter 7 bankruptcy rules determine who qualifies, how to file, and what debt is … Fundamentals of Law Chapter 7. In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must provide the following information: Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. Similarly, Chapter 7 will discharge your unsecured debts such as medical bills and credit card debt. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. Constitution of Saudi Arabia. Chapter 7, entitled Liquidation, contemplates an orderly, court-supervised procedure by which a trustee takes over the assets of the debtor’s estate, reduces them to cash, and makes distributions to creditors, subject to the debtor’s right to retain certain exempt property and the rights of secured creditors. They modelled these new laws after the image of Chapter 11 of the U.S. Bankruptcy Code. The debtor will continue to be liable for these types of debts to the extent that they are not paid in the chapter 7 case. P. 1006. The debtor must attend the meeting and answer questions regarding the debtor's financial affairs and property. 11 U.S.C. Contents. The information contained in this booklet has no legal status, and is made available for information only and should not be relied on as an official version of the Basic Law and related constitutional instruments herein. Exempt Property. Chapter 1. Chapter I General Principles . 11 U.S.C. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged debt. Chapter 7: The court may dismiss your case or convert it to a Chapter 13 bankruptcy. If the debtor was represented by an attorney in connection with the reaffirmation agreement, the attorney must certify in writing that he or she advised the debtor of the legal effect and consequences of the agreement, including a default under the agreement. International agreements to which the People's Republic of China is not a party but which are implemented in Hong Kong may continue to be implemented in the Hong Kong Special Administrative Region. The Hong Kong Special Administrative Region may, as necessary, establish official or semi-official economic and trade missions in foreign countries and shall report the establishment of such missions to the Central People's Government for the record. Download chapter 7 activity basic concepts street law answer key document. THE BASIC LAW OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA . 11 U.S.C. 4a Basic Law). The Hong Kong Special Administrative Region may, using the name "Hong Kong, China", participate in international organizations and conferences not limited to states. If your income is less than or equal to the median, you can file for Chapter 7 bankruptcy. The fee charged is the difference between the filing fee for a chapter 7 and the filing fee for a chapter 11. The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor. They must file: a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling; evidence of payment from employers, if any, received 60 days before filing; a statement of monthly net income and any anticipated increase in income or expenses after filing; and a record of any interest the debtor has in federal or state qualified education or tuition accounts. Fed. In North Carolina and Alabama, bankruptcy administrators perform similar functions that U.S. trustees perform in the remaining 48 states. The trustee may also attempt to recover money or property under the trustee's "avoiding powers." (b) Notice and Effect.—Any action taken by the Register in response to a national emergency pursuant to subsection (a) shall not be subject to section 701(e) or subchapter II of chapter 5 of title 5, United States Code, and chapter 7 of title 5, United States Code. It consists of all legal or equitable interests of the debtor in property as of the commencement of the case, including property owned or held by another person if the debtor has an interest in the property. The Central People's Government shall take the necessary steps to ensure that the Hong Kong Special Administrative Region shall continue to retain its status in an appropriate capacity in those international organizations of which the People's Republic of China is a member and in which Hong Kong participates in one capacity or another. Chapter IX Supplementary Provisions . Generally speaking, the debtor's creditors are paid from nonexempt property of the estate. Chapter 7 provides relief to debtors regardless of the amount of debts owed or whether a debtor is solvent or insolvent. The Central People's Government shall, as necessary, authorize or assist the government of the Region to make appropriate arrangements for the application to the Region of other relevant international agreements. Chapter 13: You must wait two years after you file the first chapter 13 bankruptcy to get a second discharge. P. 1007(b). To qualify for relief under chapter 7 of the Bankruptcy Code, the debtor may be an individual, a partnership, or a corporation or other business entity. § 362. Basic mechanical engineering notes for mechanical engineering students.Basic mechanical engineering app almost covers all important Mechanical Engineering topics which are indexed below chapter wise :- Chapter 1 Materials 1. The Bankruptcy Code allows an individual debtor (4) to protect some property from the claims of creditors because it is exempt under federal bankruptcy law or under the laws of the debtor's home state. The dynamic behavior is described in terms of the time rate of change of the robot configuration in relation to the joint torques exerted by the actuators. Here's an outline of When you file for Chapter 7, you lose control of the company. § 523(a). Chapter 8 16. (3) In addition to the petition, the debtor must also file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement of financial affairs; and (4) a schedule of executory contracts and unexpired leases. § 341(c). It is also the most common type of personal bankruptcy filed in the United States. The Basic Law of the Hong Kong Special Administrative Region of the People’s Republic of China . Article 2. They are not available from the court.). In a situation where only one spouse files, the income and expenses of the non-filing spouse are required so that the court, the trustee and creditors can evaluate the household's financial position. Quality System, Chapter 7 of the GMP Guide has been revised in order to provide updated guidance on outsourced GMP regulated activities beyond the current scope of contract manufacture and analysis operations. § 362(b), and the stay may be effective only for a short time in some situations. You start the case by submitting a packet of papers (called the … Here you'll find overview articles explaining what bankruptcy is, the difference between Chapter 7 and Chapter 13 bankruptcy, how each type of bankruptcy works, and what bankruptcy can and cannot do. 28 U.S.C. Created by. Debtors should be aware that failure to pay these fees may result in dismissal of the case. Learn law chapter 2 basic with free interactive flashcards. Having said that, each state as well as the federal government has enacted legislation that dictates what property debtors can keep through the Chapter 7 bankruptcy process. If a joint petition is filed, only one filing fee, one administrative fee, and one trustee surcharge are charged. The case is begun by filing the official petition, schedules and statement of financial affairs. 11 U.S.C. This site is maintained by the Administrative Office of the U.S. Courts on behalf of the Federal Judiciary. In the typical no asset chapter 7 case, there is no need for creditors to file proofs of claim because there will be no distribution. A husband and wife may file a joint petition or individual petitions. The case is begun by filing the official petition, schedules and statement of financial affairs. Parts of the Robotic Kit. P. 4004(c). The Concept of Law is a 1961 book by the legal philosopher HLA Hart and his most famous work. 7 terms. In cases under chapters 7, 12, or 13, and sometimes in chapter 11 cases, this ad… The Central People's Government shall assist or authorize the Government of the Hong Kong Special Administrative Region to conclude visa abolition agreements with foreign states or regions. Each debtor in a joint case (both husband and wife) can claim exemptions under the federal bankruptcy laws. § 522(b). P. 4005. lindsaysnowhite. During this meeting, the trustee puts the debtor under oath, and both the trustee and creditors may ask questions. P. 4007(c). If you are deciding if bankruptcy is right for you, the first step is to learn about bankruptcy. However, a condition of the debtor's voluntary conversion is that the case has not previously been converted to chapter 7 from another chapter. On this page you can read or download chapter 7 activity basic concepts street law answer key in PDF format. 11 U.S.C. Beginning in Ancient Rome and journeying to modern bankruptcy law in the United States, this presentation offers an overview of the history and current substantive law of so-called straight consumer bankruptcy in the United States under chapter 7 of the United States Bankruptcy Code. 11 U.S.C. If you are deciding if bankruptcy is right for you, the first step is to learn about bankruptcy. 11 U.S.C. While a Chapter 13 bankruptcy reorganizes debt into a repayment plan, a Chapter 7 bankruptcy, also known as a "liquidation" bankruptcy, erases all debt that is legally capable of expungement. P. 2003(a). Buy the print book Check if you have access via personal or institutional login . Chapter 7. Beginning in Ancient Rome and journeying to modern bankruptcy law in the United States, this presentation offers an overview of the history and current substantive law of so-called straight consumer bankruptcy in the United States under chapter 7 of the United States Bankruptcy Code. Thus, whether certain property is exempt and may be kept by the debtor is often a question of state law. These videos will give you basic information about the process, the relief it offers, and how to find the legal help you may need. The debtor must sign a written reaffirmation agreement and file it with the court. 11 U.S.C. 11 U.S.C. P. 1006(b); Bankruptcy Court Miscellaneous Fee Schedule, Item 8. Write. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensive reorganization. July 2020 edition. R. Bankr. One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor a "fresh start." Consular and other official missions established in Hong Kong by states which have formal diplomatic relations with the People's Republic of China may be maintained. The trustee's avoiding powers include the power to: set aside preferential transfers made to creditors within 90 days before the petition; undo security interests and other prepetition transfers of property that were not properly perfected under nonbankruptcy law at the time of the petition; and pursue nonbankruptcy claims such as fraudulent conveyance and bulk transfer remedies available under state law. Criminal Law - Chapter 7 Key Terms. 11 U.S.C. R. Bankr. You File Chapter 7, but Your Income Is Sufficient For Chapter 13. The Government of the Hong Kong Special Administrative Region may apply immigration controls on entry into, stay in and departure from the Region by persons from foreign states and regions. For cause shown, the court may extend the time of any installment, provided that the last installment is paid not later than 180 days after filing the petition. In order to preserve their independent judgment, bankruptcy judges are prohibited from attending the meeting of creditors. Unsecured debts are debts not secured with collateral, including most personal loans and credit cards. Furthermore, physics has retained the most basic aspects of science, so it is used by all of the sciences. Basic Law Full Text - PDA - chapter (3) Chapter III Fundamental Rights and Duties of the Residents Article 24 Residents of the Hong Kong Special Administrative Region ("Hong Kong residents") shall include permanent residents and non-permanent residents. These forms prompt you to list all of your assets and all of your debts, along with some recent financial history.This is the most important and most time consuming part of a bankruptcy filingIt is important that every creditor is listed in the schedules with an accurate mailing address. Even though most Chapter 13 filers make too much money to qualify for Chapter 7 bankruptcy, many debtors choose to file for Chapter 13 bankruptcy because it offers many benefits not available in Chapter 7 (such as the ability to catch up on missed mortgage payments or strip wholly unsecured junior liens from your house). The trustee can't take all your assets. Liquidation under Chapter 7 is a common form of bankruptcy. Effective Workplace Communication Skills. Flashcards. Question Number Answer Level 1 Head Reference for Answer Difficulty 1 C. What is an Information System? Normally, the fees must be paid to the clerk of the court upon filing. The socialist system is the fundamental system of the People’s Republic of China. The Central People's Government shall, where necessary, facilitate the continued participation of the Hong Kong Special Administrative Region in an appropriate capacity in those international organizations in which Hong Kong is a participant in one capacity or another, but of which the People's Republic of China is not a member. (3) In addition to the petition, the debtor must also file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement … Chapter 9 18. The court may revoke a chapter 7 discharge on the request of the trustee, a creditor, or the U.S. trustee if the discharge was obtained through fraud by the debtor, if the debtor acquired property that is property of the estate and knowingly and fraudulently failed to report the acquisition of such property or to surrender the property to the trustee, or if the debtor (without a satisfactory explanation) makes a material misstatement or fails to provide documents or other information in connection with an audit of the debtor's case. 11 U.S.C. A particular advantage of chapter 13 is that it provides individual debtors with an opportunity to save their homes from foreclosure by allowing them to "catch up" past due payments through a payment plan. Roadways to the Federal Bench: Who Me? The Bankruptcy Code requires the trustee to ask the debtor questions at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy such as the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. Chapter 7 Dynamics In this chapter, we analyze the dynamic behavior of robot mechanisms. A detailed list of the debtor's monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc. The Concept of Law is a 1961 book by the legal philosopher HLA Hart and his most famous work. Chapter 7, Formalism and Rule-Skepticism Summary and Analysis. The debtor may repay any debt voluntarily, however, whether or not a reaffirmation agreement exists. If the debtor's income is less than 150% of the poverty level (as defined in the Bankruptcy Code), and the debtor is unable to pay the chapter 7 fees even in installments, the court may waive the requirement that the fees be paid. Basic Dynamic Equations In this section we derive the equations of motion for an … Although a secured creditor does not need to file a proof of claim in a chapter 7 case to preserve its security interest or lien, there may be other reasons to file a claim. They are not available from the court.). 11 U.S.C. Deadline for coming into operation: 31 January 2013 Chapter V Economy . §§ 109(g), 362(d) and (e). Log in Register Recommend to librarian Print publication year: 2018; Online publication date: November 2018; 7 - Behind the Text of the Basic Law. Chapter 7 bankruptcy rules determine who qualifies, how to file, and what debt is eligible for discharge. A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. If a husband and wife have filed a joint petition, they both must attend the creditors' meeting and answer questions. In cases where a federal or state law or public ordinance is alleged to be in violation of these fundamental rights, the Basic Law provides the constitutional complaint with an appeal to the Federal Constitutional Court (Article 93 paragraphs 1 No. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even telephone calls demanding payments. But not all of an individual's debts are discharged in chapter 7. Terms in this set (23) A physician who performs a surgical procedure on a patient without obtaining the patient's consent may be liable for. 11 U.S.C. Section 7 Swearing Allegiance. 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