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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....

Adversary Proceedings

Under Bankruptcy Rules, an adversary proceeding may be filed in a debtor's bankruptcy action for certain specific reasons. Creditors may initiate adversary proceedings to determine the validity or priority of a lien, to determine the validity of...

Compensation for Professionals

The Bankruptcy Code provides the statutory authority for compensating the services and reimbursing the expenses of officers of the estate. These claims are afforded first priority in the distribution of an estate. The Bankruptcy Code prescribes...

Secured Claims and Liens

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...

Treatment of Property Settlement Claims

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...