Chapter 12 Bankruptcy

Bankruptcy Law For Fisherman and Farmers

Famers and fisherman hold an important place in the economy of the USA, still, there was no permanent law for them to declare bankruptcy. Of late, Chapter 12 is introduced for family farmers and family fisherman, who may want to seek bankruptcy law. To know about other Chapters and bankruptcy in the whole log on to Recovery Law Group. A brief history of Chapter 12 Chapter 12 was introduced by Congress to help farmers and fisherman who were struggling with debts during the emergency in 1986. However, it was a temporary structure that became permanent only in 2005. [...]


All You Wanted to Know About Bankruptcy Basis Process

The Bankruptcy Code is a uniform federal law which is used to govern all bankruptcy-related cases. According to U.S. Constitution Article I, Section 8, Congress is authorized to enact “uniform Laws on the subject of Bankruptcies”. The “Bankruptcy Code” (title 11 of United States Code) was thus enacted by the Congress in 1978 and has undergone several amendments since then. The bankruptcy process proceedings are governed by the Bankruptcy Rules (Federal Rules of Bankruptcy Procedure) and local rules of each bankruptcy court. As per bankruptcy rules, a certain set of official forms are to be used in bankruptcy [...]