Akin Law Group - Untitled 1

Time and Necessity of Filing Proofs of Claims

A "claim" in bankruptcy is (1) a right to payment, whether or not reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (2) a right to an equitable...

Overview of Chapter 12 "Family Farmer" Bankruptcy

In the mid-1980's, farmers throughout the United States faced seemingly insurmountable credit problems. Struggling family farmers were seeing their property and equipment placed on the auction block. In order to protect distressed family...

Discharge of Indebtedness

Bankruptcy is a process created by federal law that provides relief for debtors, who can either eliminate their debts or repay their debts. Chapter 7 "liquidation" is the process by which debtors wipe out or "discharge" many of their debts....

Bankruptcy During Divorce

Problems may result from the conflict of interests between domestic relations courts and bankruptcy courts when a couple files for bankruptcy during a divorce. The conflict arises because of the differing policies between the courts. Bankruptcy...

The "Clean Slate" of Chapter 7 Bankruptcy

What is Chapter 7 bankruptcy?

Bankruptcy is a process created by federal law that provides relief for debtors, who can either eliminate their debts or repay their debts. The Bankruptcy Code is divided into...