Bankruptcy & Debt Law

Bankruptcy is the legal status of a person or an entity that is unable to repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor. In the United States, bankruptcy refers to the form insolvency proceedings for both individuals and organizations that take place in Federal Bankruptcy Court. Most filings in Bankruptcy Court are made under Chapter 7, Chapter 11 and Chapter 13 of the Bankruptcy Code. Debtor and Creditor law includes regulations concerning foreclosures, repossession, credit cards, credit reporting and debt collection