| Chapter 13 Postpetition Claims |
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| Certain postpetition claims may be filed and allowed in a Chapter 13 case. This permits the same treatment of certain postpetition credit extended to the Chapter 13 debtor as for a prepetition claim for purposes of proof, allowance, and priority. More... |
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| Secured Claims and Liens |
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| Secured claims include liens, security interests, security agreements, and secured claims. An allowed claim secured by a lien on property in which the estate has an interest, or that is subject to setoff, is a secured claim to the extent of the value of the creditor's interest in the estate's interest in the property or the amount subject to setoff. A secured claim carries the right to adequate protection of collateral. Unavoided liens survive bankruptcy but circumstances may demand action by a secured creditor to protect the lien. More... |
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| Treatment of Property Settlement Claims |
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| Certain property settlements are not dischargeable in a Chapter 7, 11 or 12 bankruptcy case, but remain dischargeable in Chapter 13 cases. Support, alimony or maintenance that is incurred by the debtor in the course of a divorce or separation or in connection with a separation agreement, divorce decree or other order of a court are generally not dischargeable.More... |
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| Chapter 12 Debtor and Trustee Powers |
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| Chapter 12 provides that a standing trustee will be appointed in each case, but in the ordinary course, actual operation of the farm will remain with the debtor. Additionally, the debtor, as debtor in possession, has all rights, responsibilities, and powers, as would a debtor in possession under Chapter 11. Chapter 12 does not provide for the appointment of creditors' committees.More... |
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| Debtor Eligibility |
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| There are different eligibility requirements under the various chapters of bankruptcy. Eligible consumers and businesses can file under Chapter 7 and Chapter 11. Only family farmers are eligible to file under Chapter 12, and only individuals are eligible to file under Chapter 13.More... |
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