- Instructor: Attorney Bob Schaller
- Lectures: 2
Chapter 1 of the Bankruptcy Code
The United States bankruptcy laws are codified at 11 U.S.C. § 101 et seq., which is commonly referred to as the Bankruptcy Code. The Code is segregated into various “chapters” just like a book: 1, 3, 5, 7, 9, 12, 13 and 15.
The Bankruptcy Code is the most authoritative source of bankruptcy law. For individuals seeking to discharge their debts without making any payments, the most relevant Bankruptcy Code chapters are chapters 1, 3, 5 & 7. Chapter 1 contains general provisions, including the extent and limits of judicial power, see 11 U.S.C. §105, and limits on who may file for bankruptcy relief, see 11 U.S.C. §109. Chapter 3 relates to case administration, including rules commencing a case, see 11 U.S.C. § 301, trustee and other officers’ duties, see 11 U.S.C. § 321 – 11 U.S.C. § 331, required meetings of creditors, see 11 U.S.C. §341, and automatic stay/injunction rights, see 11 U.S.C. §362. Chapter 5 relates to creditors rights and claims. Chapter 7 provides the discharge provision that discharges certain debts in return for the liquidation of the debtor’s non-exempt and partially exempt assets, see 11 U.S.C. § 727.
Chapter 1 of the Bankruptcy Code is the focus of this chapter. Not all sections of Chapter 1 will be addressed. Instead, concentration is placed on those sections of Chapter 1 that relate most directly to an individual Chapter 7 bankruptcy case. Notwithstanding, every bankruptcy attorney should study the full text of the Bankruptcy Code before representing clients.
Bankruptcy Code Section 101 et seq.