What is the United States Bankruptcy Code?
A San Jose bankruptcy attorney answers the question: What is the United States Bankruptcy Code?
The United States Bankruptcy Code is in place for a reason. It is Title 11 in the United State Code and functions as the primary source for all bankruptcy statutes. The United States Bankruptcy Code is divided into 9 chapters as follows:
Chapters of the United States Bankruptcy Code:
Chapter 1 - General Provisions
Chapter 3 - Case Administration
Chapter 5 - Creditors, The Debtor, And The Estate
Chapter 7 - Liquidation
Chapter 9 - Adjustment Of Debts Of A Municipality
Chapter 11 - Reorganization
Chapter 12 - Adjustment Of Debts Of A Family Farmer Or Fisherman With Regular Annual Income
Chapter 13 - Adjustment Of Debts Of An Individual With Regular Income
Chapter 15 - Ancillary And Other Cross-Border Cases
Title 11 (more popularly know as the Bankruptcy Code) was signed into law in 1979 and has had amendments since then, including an overhaul in 2005. It is published by the US government and outlines the laws passed by Congress that pertain to all aspects of bankruptcy.
When the US Bankruptcy Code is amended, current versions become available by different sources. The Office of the Law Revision Counsel (LRC) begins the long process of codification of classifying new legislation that applies to the Bankrutpcy Code's different sections. The new legislation is put into "classification tables" by the LRC, then made available via their website: click here. The most current version is as of January 5, 2009. Another helpful link provides explainations by the LRC with regard to the US Bankruptcy Code: click here. Changes to the US Bankruptcy Code that have not yet been published to the classification tables can be found via this link.
If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!
