Here is the synopsis of our sample research paper on Bankruptcy Chapters 7, 9, 11, 12, and 13. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 5 page paper that explains each of these chapters in the bankruptcy code. Changes made in 2005 are reported. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: ME12_PG689847.rtf
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Unformatted sample text from the term paper:
debts. Chapters 11, 12 and 13 are in the reorganization category. Under this category, assets are reorganized in order to pay off creditors over period of time (IRS, 2011). Chapter
7 - Liquidation. This is a proceeding that can be filed by individuals, businesses, corporations, partnerships, etc. The filing individual or entity turns over all their property that is not
exempt to the appointed trustee who liquidates the assets and pays off as many of the debts that can be paid (IRS.com, 2011; LawFirms.com, 2011). If there is more debt
than payment, the rest of the debt is considered discharged. Each state determines which property is exempt from these proceedings. Usually, a lot of personal items, such as furniture, household
items, and the equity in the persons home is exempt (LawFirms.com, 2011). This Chapter is referred as getting a fresh start (LawFirms.com, 2011). In 2005, a major change was made
in the Bankruptcy code that tightened up who can file for a Chapter 7 bankruptcy. Also, anyone filing Chapter 7 must now participate in financial and credit educational seminars (LawFirms.com,
2011). Chapter 9 - Adjustment of a Municipal Debt. This applies only to municipalities who become insolvent and can not meet their debts or who will not be able to
meet their debts in the near future, such as bonds when they mature (IRS.com, 2011; LawFirms.com, 2011). This is a reorganization rather either all their debts or a portion of
their debts over a planned period of time while they are under the protection of the Bankruptcy Court (LawFirms.com, 2011). Chapter 11 - Reorganization. Individuals, businesses, or corporations can file
under this Chapter although businesses use this chapter a great deal more often than individuals (IRS.com, 2011; LawFirms.com, 2011). A plan is developed and the one filing pays creditors according
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