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Administrative Claims

Administrative expense claims in bankruptcy cases are entitled to first priority ahead of all other general unsecured claims and, therefore, they are paid in full before all other unsecured claims to the extent there are available unencumbered...

Introduction to Chapter 11 Bankruptcy

You may have heard a news report about a company that has emerged from Chapter 11 so that it can continue doing business. Similarly, you may have read about how a financially troubled company proposes, in its Chapter 11 reorganization plan, to...

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...

Alimony and Support Claims

Filing for bankruptcy does not suspend or stop the obligation to pay child support or alimony. Whether an obligation imposed by a divorce decree is dischargeable depends on whether it is characterized as support or as a property settlement. In...

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...