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Bankruptcy Law – What is the “Bankruptcy Code”?

The set of federal laws that governs all bankruptcy cases in the United States is considered the Bankruptcy Code.

The Code is found in Title 11 of the United States Code and is divided into several Chapters.

The first three Chapters (1, 3 and 5) deal with the general bankruptcy rules and procedures.

The remaining Chapters (7, 9, 11, 12, 13 and 15) deal with specific types of bankruptcy proceedings.

Each Chapter has several Sections:

Chapter 1 General Provisions (Sections 101 112)

Chapter 3 Case Administration (Sections 301 366)

Chapter 5 Creditors, the Debtor and the Estate (Sections 501 562)

Chapter 7 Liquidation (Sections 701 784)

Chapter 9 Adjustment of Debts of a Municipality (Sections 901 946)

Chapter 11 Reorganization (Sections 1101 1174)

Chapter 12 Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income (Sections 1201 1231)

Chapter 13 Adjustment of Debts of an Individual with Regular Income (Sections 1301 1330)

Chapter 15 Ancillary and Other Cross-Border Cases (Sections 1501 1532)

Getting Started

As a Certified Specialist in Bankruptcy law Todd Turoci, and The Turoci Bankruptcy Firm, have the experience that will help you save time, money and stress. Contact us today.