basic law chapter 7

11 U.S.C. In cases where a federal or state law or public ordinance is alleged to be in violation of these fundamental rights, the Basic Law provides the constitutional complaint with an appeal to the Federal Constitutional Court (Article 93 paragraphs 1 No. Terms in this set (9) Complicity. The debtor has no liability for discharged debts. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. These videos will give you basic information about the process, the relief it offers, and how to find the legal help you may need. Liquidation under Chapter 7 is a common form of bankruptcy. They must file: a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling; evidence of payment from employers, if any, received 60 days before filing; a statement of monthly net income and any anticipated increase in income or expenses after filing; and a record of any interest the debtor has in federal or state qualified education or tuition accounts. A fee is charged for converting, on request of the debtor, a case under chapter 7 to a case under chapter 11. § 524(c). It forbids certain ways of behaving, for instance stealing, killing or exceeding speed limits and prescribes others. Chapter 7 bankruptcy is a legal process that can help individuals get relief from debts by discharging — or clearing — some or all of what’s owed. If a husband and wife have filed a joint petition, they both must attend the creditors' meeting and answer questions. States not recognized by the People's Republic of China may only establish non-governmental institutions in the Region. § 362(b), and the stay may be effective only for a short time in some situations. §§ 101(41), 109(b). If your income is less than or equal to the median, you can file for Chapter 7 bankruptcy. The primary role of a chapter 7 trustee in an asset case is to liquidate the debtor's nonexempt assets in a manner that maximizes the return to the debtor's unsecured creditors. § 101(10A). The purpose of this page is to provide basic information about the key forms and procedures involved in filing for Chapter 7 bankruptcy. Eligibility is typically determined by income, with the state median income serving as a benchmark. When you file for Chapter 7, you lose control of the company. Among other reasons, the court may deny the debtor a discharge if it finds that the debtor: failed to keep or produce adequate books or financial records; failed to explain satisfactorily any loss of assets; committed a bankruptcy crime such as perjury; failed to obey a lawful order of the bankruptcy court; fraudulently transferred, concealed, or destroyed property that would have become property of the estate; or failed to complete an approved instructional course concerning financial management. But filing the petition does not stay certain types of actions listed under 11 U.S.C. You File Chapter 7, but Your Income Is Sufficient For Chapter 13. The bankruptcy judge may decide any matter connected with a bankruptcy case, such as eligibility to file or whether a debtor should receive a discharge of debts. 7.1 Newton-Euler Formulation of Equations of Motion 7.1.1. The bankruptcy court will appoint an unbiased trustee to oversee the... Debt Repayment. 11 U.S.C. Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the Government of the People's Republic of China, participate in negotiations at the diplomatic level directly affecting the Region conducted by the Central People's Government. If a joint petition is filed, only one filing fee, one administrative fee, and one trustee surcharge are charged. This is generally an as-is sale of everything. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even telephone calls demanding payments. Generally speaking, the debtor's creditors are paid from nonexempt property of the estate. Created by. § 523(c); Fed. The Central People's Government shall, where necessary, facilitate the continued participation of the Hong Kong Special Administrative Region in an appropriate capacity in those international organizations in which Hong Kong is a participant in one capacity or another, but of which the People's Republic of China is not a member. Download chapter 7 activity basic concepts street law answer key document. In other jurisdictions, the individual debtor has the option of choosing between a federal package of exemptions or the exemptions available under state law. (b) Notice and Effect.—Any action taken by the Register in response to a national emergency pursuant to subsection (a) shall not be subject to section 701(e) or subchapter II of chapter 5 of title 5, United States Code, and chapter 7 of title 5, United States Code. The debtor will continue to be liable for these types of debts to the extent that they are not paid in the chapter 7 case. Debtors should be aware that failure to pay these fees may result in dismissal of the case. A governmental unit, however, has 180 days from the date the case is filed to file a claim. § 706(a). If a debt management plan is developed during required credit counseling, it must be filed with the court. Test. In addition, no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. You aren’t legally able to file Chapter 7 bankruptcy if you had a previous Chapter 7 bankruptcy discharge within the past 8 years, or a Chapter … The case is begun by filing the official petition, schedules and statement of financial affairs. Depending on individual circumstances, if a debtor wishes to keep certain secured property (such as an automobile), he or she may decide to "reaffirm" the debt. § 302(a). Section 7 Swearing Allegiance. 11 U.S.C. The bankruptcy administrator program is administered by the Administrative Office of the United States Courts, while the U.S. trustee program is administered by the Department of Justice. It is available to individuals who cannot make regular, monthly, payments toward their debts. Commencement of a bankruptcy case creates an "estate." In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. 32 terms. Chapter 7: The court may dismiss your case or convert it to a Chapter 13 bankruptcy. Under § 726, there are six classes of claims; and each class must be paid in full before the next lower class is paid anything. Chapter 13: You must wait two years after you file the first chapter 13 bankruptcy to get a second discharge. § 524(k). 11 U.S.C. There are exceptions in emergency situations or where the U.S. trustee (or bankruptcy administrator) has determined that there are insufficient approved agencies to provide the required counseling. Chapter 7: Financial Affairs Article 71 specifies that revenue is entered and spent according to rules of statutes which will be published regularly in the Official Gazette per Article 70. Beginning in Ancient Rome and journeying to modern bankruptcy law in the United States, this presentation offers an overview of the history and current substantive law of so-called straight consumer bankruptcy in the United States under chapter 7 of the United States Bankruptcy Code. P. 4007(c). The Basic Laws of Israel (Hebrew: חוקי היסוד ‎ ‎, romanized: χuke ha-yesod) are 14 constitutional laws of the State of Israel, and some of them can only be changed by a supermajority vote in the Knesset (with varying requirements for different Basic Laws and sections). Fed. The Central People's Government shall, as necessary, authorize or assist the government of the Region to make appropriate arrangements for the application to the Region of other relevant international agreements. General rules, standards and principles are the primary forces of social control in any society; individual directions cannot be given for everything. Accordingly, the debtor is not particularly interested in the trustee's disposition of the estate assets, except with respect to the payment of those debts which for some reason are not dischargeable in the bankruptcy case. With the court's permission, however, individual debtors may pay in installments. Chapter VII External Affairs . If you qualify, Chapter 7 bankruptcy may allow you to discharge a variety of debts, but typically excludes obligations like child support, student loans or … For purposes of this publication, references to U.S. trustees are also applicable to bankruptcy administrators. This chapter of the Bankruptcy Code provides for "liquidation" - the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors. The basic principles of Hong Kong's governance under Chinese sovereignty mirror those in the Sino-British Joint Declaration, and most of them are set out in the first chapter of the Basic Law. (The Official Forms may be purchased at legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. The estate technically becomes the temporary legal owner of all the debtor's property. 11 U.S.C. One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor a "fresh start." § 341(c). Here you'll find overview articles explaining what bankruptcy is, the difference between Chapter 7 and Chapter 13 bankruptcy, how each type of bankruptcy works, and what bankruptcy can and cannot do. Spell. Id. Currently, the majority of insolvency cases have ended in liquidation in Europe rather than the businesses surviving the crisis. §§ 109, 111. § 727(d). At the same time, the trustee might also sell (liquidate) some of your property to repay your creditors. Efficient algorithms have been developed that allow the dynamic computations to be carried out on-line in real time. 11 U.S.C. 28 U.S.C. Among other things, the disclosures must advise the debtor of the amount of the debt being reaffirmed and how it is calculated and that reaffirmation means that the debtor's personal liability for that debt will not be discharged in the bankruptcy. In the typical no asset chapter 7 case, there is no need for creditors to file proofs of claim because there will be no distribution. Chapter 8 : Control Bodies [ … §§ 109(g), 362(d) and (e). The Basic Law of the Hong Kong Special Administrative Region of the People’s Republic of China . There is no fee for converting from chapter 7 to chapter 13. Chapter 7 is the most common type of bankruptcy and is often referred to as a straight bankruptcy. But it must be court approved, so a hearing will be held after notice to all interested persons. The grounds for denying an individual debtor a discharge in a chapter 7 case are narrow and are construed against the moving party. 11 U.S.C. Individual debtors with primarily consumer debts have additional document filing requirements. If you qualify, Chapter 7 bankruptcy may allow you to discharge a variety of debts, but typically excludes obligations like child support, student loans or … Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. Even if filing jointly, a husband and wife are subject to all the document filing requirements of individual debtors. Basic mechanical engineering notes for mechanical engineering students.Basic mechanical engineering app almost covers all important Mechanical Engineering topics which are indexed below chapter wise :- Chapter 1 Materials 1. Content. The Hong Kong Special Administrative Region may, using the name "Hong Kong, China", participate in international organizations and conferences not limited to states. R. Bankr. Each debtor in a joint case (both husband and wife) can claim exemptions under the federal bankruptcy laws. Similarly, Chapter 7 will discharge your unsecured debts such as medical bills and credit card debt. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. They are not available from the court.). If the balance is not enough to pay the debt to be reaffirmed, there is a presumption of undue hardship, and the court may decide not to approve the reaffirmation agreement. Chapter VIII Interpretation and Amendments of the Basic Law . Created by. The Central People's Government shall authorize the Government of the Hong Kong Special Administrative Region to issue, in accordance with law, passports of the Hong Kong Special Administrative Region of the People's Republic of China to all Chinese citizens who hold permanent identity cards of the Region, and travel documents of the Hong Kong Special Administrative Region of the People's Republic of China to all other persons lawfully residing in the Region. If the U.S. trustee or bankruptcy administrator (5) schedules the meeting at a place that does not have regular U.S. trustee or bankruptcy administrator staffing, the meeting may be held no more than 60 days after the order for relief. 2 Basic Concepts What is law? Criminal Law - Chapter 7 Key Terms. Roadways to the Federal Bench: Who Me? Important Notice . Unless the debtor is represented by an attorney, the bankruptcy judge must approve the reaffirmation agreement. 7 Factors that affect Quality Online Instruction. The "current monthly income" received by the debtor is a defined term in the Bankruptcy Code and means the average monthly income received over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from nondebtors and including income from the debtor's spouse if the petition is a joint petition, but not including social security income or certain payments made because the debtor is the victim of certain crimes. § 704(b). The fee charged is the difference between the filing fee for a chapter 7 and the filing fee for a chapter 11. The Bankruptcy Code requires that reaffirmation agreements contain an extensive set of disclosures described in 11 U.S.C. 11 U.S.C. The court official with decision-making power over federal bankruptcy cases is the United States bankruptcy judge, a judicial officer of the United States district court. Chapter I General Principles . Among the schedules that an individual debtor will file is a schedule of "exempt" property. You're permitted to keep certain "exempt … An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. § 727; Fed. Some trustees provide written information on these topics at or before the meeting to ensure that the debtor is aware of this information. Terms in this set (23) A physician who performs a surgical procedure on a patient without obtaining the patient's consent may be liable for. The debtor must attend the meeting and answer questions regarding the debtor's financial affairs and property. Fed. Currently, the difference is $922. STUDY. (3) In addition to the petition, the debtor must also file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement of financial affairs; and (4) a schedule of executory contracts and unexpired leases. Choose from 500 different sets of constitution law chapter 7 flashcards on Quizlet. Generally, excluding cases that are dismissed or converted, individual debtors receive a discharge in more than 99 percent of chapter 7 cases. 11 U.S.C. Furthermore, physics has retained the most basic aspects of science, so it is used by all of the sciences. A Bankruptcy Judge? According to the circumstances of each case, consular and other official missions established in Hong Kong by states which have no formal diplomatic relations with the People's Republic of China may be permitted either to remain or be changed to semi-official missions. From Dismemberment to Discharge: The History and Basic Law of Consumer Bankruptcy in Chapter 7. Much of the bankruptcy process is administrative, however, and is conducted away from the courthouse. The Central People's Government shall assist or authorize the Government of the Hong Kong Special Administrative Region to conclude visa abolition agreements with foreign states or regions. Alloy steel and their applications 5. 11 U.S.C. 82 terms. Although a secured creditor does not need to file a proof of claim in a chapter 7 case to preserve its security interest or lien, there may be other reasons to file a claim. Match. Chapter 7 of Title 11 of the United States Code (Bankruptcy Code) governs the process of liquidation under the bankruptcy laws of the United States, in contrast to Chapters 11 and 13, which govern the process of reorganization of a debtor. When a chapter 7 petition is filed, the U.S. trustee (or the bankruptcy court in Alabama and North Carolina) appoints an impartial case trustee to administer the case and liquidate the debtor's nonexempt assets. Section 726 of the Bankruptcy Code governs the distribution of the property of the estate. Learn. In cases under chapters 7, 12, or 13, and sometimes in chapter 11 cases, this ad… Within 10 days of the creditors' meeting, the U.S. trustee will report to the court whether the case should be presumed to be an abuse under the means test described in 11 U.S.C. A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Chapter 7 bankruptcy is a legal process that can help individuals get relief from debts by discharging — or clearing — some or all of what’s owed. Write. R. Bankr. The socialist system is the fundamental system of the People’s Republic of China. Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the People's Republic of China, participate in international organizations or conferences in appropriate fields limited to states and affecting the Region, or may attend in such other capacity as may be permitted by the Central People's Government and the international organization or conference concerned, and may express their views, using the name "Hong Kong, China". Chapter VII External Affairs Article 150 Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the Government of the People's Republic of China, participate in negotiations at the diplomatic level directly affecting the Region conducted by the Central People's Government. Debts for money or property obtained by false pretenses, debts for fraud or defalcation while acting in a fiduciary capacity, and debts for willful and malicious injury by the debtor to another entity or to the property of another entity will be discharged unless a creditor timely files and prevails in an action to have such debts declared nondischargeable. PLAY. The above passports and documents shall be valid for all states and regions and shall record the holder's right to return to the Region. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensive reorganization. The NPCSC has identified Articles 1 and 12 as the fundamental provisions of the Basic Law. Moreover, a bankruptcy discharge does not extinguish a lien on property. If you don't see any interesting for you, use our search form on bottom ↓ . The information contained in this booklet has no legal status, and is made available for information only and should not be relied on as an official version of the Basic Law and related constitutional instruments herein. It forbids certain ways of behaving, for instance stealing, killing or exceeding speed limits and prescribes others. Basic Criminal Law, Fifth Edition, provides a thorough grounding in criminal law, its history, how it is practiced today, and what trends will take it into the future. Preamble . Find information about bankruptcy laws, including answers to some of the most frequently asked questions. Filing a petition under chapter 7 "automatically stays" (stops) most collection actions against the debtor or the debtor's property. section of this chapter. The debtor may also pay the $75 administrative fee and the $15 trustee surcharge in installments. If it is more than the median, however, you must pass "the means test" -- … Debts not discharged include debts for alimony and child support, certain taxes, debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit, debts for willful and malicious injury by the debtor to another entity or to the property of another entity, debts for death or personal injury caused by the debtor's operation of a motor vehicle while the debtor was intoxicated from alcohol or other substances, and debts for certain criminal restitution orders. If you don't see any interesting for you, use our search form on bottom ↓ . For cause shown, the court may extend the time of any installment, provided that the last installment is paid not later than 180 days after filing the petition. Flashcards. While a Chapter 13 bankruptcy reorganizes debt into a repayment plan, a Chapter 7 bankruptcy, also known as a "liquidation" bankruptcy, erases all debt that is legally capable of expungement. Write. A particular advantage of chapter 13 is that it provides individual debtors with an opportunity to save their homes from foreclosure by allowing them to "catch up" past due payments through a payment plan. The state's public holidays are Id al-Fitr and Id al-Adha.Its calendar is the Hegira calendar. Learn law chapter 2 basic with free interactive flashcards. Chapter 8 16. Log in Register Recommend to librarian Print publication year: 2018; Online publication date: November 2018; 7 - Behind the Text of the Basic Law. The bankruptcy trustee takes over the business assets and determines whether it’s in the best interests of the creditors to sell the business as a whole or to sell off the assets. A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. From Dismemberment to Discharge: The History and Basic Law of Consumer Bankruptcy in Chapter 7. Thus, whether certain property is exempt and may be kept by the debtor is often a question of state law. Id. Match. A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. If the trustee later recovers assets for distribution to unsecured creditors, the Bankruptcy Court will provide notice to creditors and will allow additional time to file proofs of claim. R. Bankr. OTHER SETS BY THIS CREATOR. In North Carolina and Alabama, bankruptcy administrators perform similar functions that U.S. trustees perform in the remaining 48 states. The title of the Chapter has been changed to reflect this. Chapter V Economy . § 303. THE BASIC LAW OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA . Chapter 6 12. These forms prompt you to list all of your assets and all of your debts, along with some recent financial history.This is the most important and most time consuming part of a bankruptcy filingIt is important that every creditor is listed in the schedules with an accurate mailing address. The Hong Kong Special Administrative Region may, as necessary, establish official or semi-official economic and trade missions in foreign countries and shall report the establishment of such missions to the Central People's Government for the record. PLAY. These forms prompt you to list all of your assets and all of your debts, along with some recent financial history.This is the most important and most time consuming part of a bankruptcy filingIt is important that every creditor is listed in the schedules with an accurate mailing address. Even though most Chapter 13 filers make too much money to qualify for Chapter 7 bankruptcy, many debtors choose to file for Chapter 13 bankruptcy because it offers many benefits not available in Chapter 7 (such as the ability to catch up on missed mortgage payments or strip wholly unsecured junior liens from your house). Between 21 and 40 days after the petition is filed, the case trustee (described below) will hold a meeting of creditors. The application to the Hong Kong Special Administrative Region of international agreements to which the People's Republic of China is or becomes a party shall be decided by the Central People's Government, in accordance with the circumstances and needs of the Region, and after seeking the views of the government of the Region. 11 U.S.C. 11 U.S.C. Businesses choosing to terminate their enterprises may also file Chapter 7. A reaffirmation is an agreement between the debtor and the creditor that the debtor will remain liable and will pay all or a portion of the money owed, even though the debt would otherwise be discharged in the bankruptcy. Basic Law of Saudi Arabia. What is most useful is the knowledge of the basic laws of physics and skill in the analytical methods for applying them. Chapter 1. The Government of the Hong Kong Special Administrative Region shall be responsible for their management, use and development and for their lease or grant to individuals, legal persons or organizations for use or development. Unsecured debts are debts not secured with collateral, including most personal loans and credit cards. Fundamental rights (German: Grundrechte) are guaranteed in Germany by the Federal Constitution and in some state constitutions.In the Basic Law, most fundamental rights are guaranteed in the first section of the same name (Articles 1 to 19). Basic Law Full Text - index.html Printed version: available free of charge at any of the District Offices under the Home Affairs Department PDF version: click here to download HTML version: see below Important Notice. Contents. 11 U.S.C. The debtor is only paid if all other classes of claims have been paid in full. A debtor may choose to file for either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. The debtor must sign a written reaffirmation agreement and file it with the court. 11 U.S.C. Chapter 7 bankruptcy is a court-supervised process that allows individuals to eliminate their personal liability for most types of debt and receive a fresh start. 11 U.S.C. Quality System, Chapter 7 of the GMP Guide has been revised in order to provide updated guidance on outsourced GMP regulated activities beyond the current scope of contract manufacture and analysis operations. The trustee accomplishes this by selling the debtor's property if it is free and clear of liens (as long as the property is not exempt) or if it is worth more than any security interest or lien attached to the property and any exemption that the debtor holds in the property. Understanding Chapter 7 Bankruptcy Counseling and Forms. The Hong Kong Special Administrative Region may on its own, using the name "Hong Kong, China", maintain and develop relations and conclude and implement agreements with foreign states and regions and relevant international organizations in the appropriate fields, including the economic, trade, financial and monetary, shipping, communications, tourism, cultural and sports fields. R. Bankr. The stay arises by operation of law and requires no judicial action. In Chapter 7 bankruptcy, the bankruptcy trustee cancels many (or all) of your debts. It is also the most common type of personal bankruptcy filed in the United States. They modelled these new laws after the image of Chapter 11 of the U.S. Bankruptcy Code. R. Bankr. Chapter 7 bankruptcy rules determine who qualifies, how to file, and what debt is eligible for discharge. Normally, the fees must be paid to the clerk of the court upon filing. The Concept of Law is a 1961 book by the legal philosopher HLA Hart and his most famous work. Fed. DUI Law. Moreover, the court may dismiss a chapter 7 case filed by an individual whose debts are primarily consumer rather than business debts if the court finds that the granting of relief would be an abuse of chapter 7. The bankruptcy law prevents people from repeatedly running up debts and having them discharged in bankruptcy court. In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must provide the following information: Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. You'll file the bankruptcy petition. 11 U.S.C. P. 1006. An involuntary chapter 7 case may be commenced under certain circumstances by a petition filed by creditors holding claims against the debtor. Involving individual debtors, not to partnerships or corporations must wait two years after you file chapter 7.. Than in a joint petition, schedules and statement of financial affairs trustee! Alternatives to chapter 7 internet at www.uscourts.gov/bkforms/index.html about the key Forms and procedures involved in filing chapter... What is an information system paid if all other classes of claims have been paid in full a debtor often... May retain some rights to seize property securing an underlying debt even after a discharge is entered available to who... Trustees are also applicable to bankruptcy administrators perform similar functions that U.S. trustees perform in the Region normally the. Provided by the administrative Office of the People ’ s Republic of China of all the debtor is represented an! The basic law chapter 7 Forms and procedures involved in filing for chapter 7 bankruptcy, on request of the 's... 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