Bankruptcy

Term Paper # 115108

Business > Law
Law > Business

Bankruptcy

An overview of the elements involved in bankruptcy filings.

892 words () | 6 sources | APA | 2006 United States

Paper Summary:

The paper discusses the ratio of chapter seven to chapter eleven bankruptcy filings, timeframe requirements and the common reasons why individuals file for bankruptcy. The paper also looks at debts that can not be discharged through chapter seven filings and if payment modification is available for debtors that cannot pay under their current plans.

Outline:
The Ratio of Chapter Seven to Chapter Eleven Filings for Business
Typical Chapter Eleven Time Span for Filing, Confirmation, and Successful Completion
The Most Common Reasons that Force Individuals to File for Bankruptcy
Individual Debts That May Not be Discharged by Filing for a Chapter Eleven Bankruptcy
Can a Chapter Thirteen Payment Plan be Modified if the Debtor Cannot Make Payments

From the Paper:

"Based on the statistics released in the December 3, 2004 News Release from the Administrative Office of the U.S. Courts and as stated in Chapter 11, Title 11, of the United States Code (Wikipedia, 2003), the number of business bankruptcy filings for the twelve month period ending September 30, 2003 are 21,008 chapter 7 filings, and 9,185 chapter 11 filings. Therefore, based on this information, the ratio of chapter seven to chapter eleven business filings is approximately 2.287:1. This deduces that there are nearly two and one-third times more chapter 7 filings compared to chapter eleven filings for businesses alone."

Sample of Sources Used:

Delaware Legal Link (2005). Retrieved September 15, 2006, from Facts About Bankruptcy Web site: http://www.lscd.com/ Home/PublicWeb/Content/Consumer/Bankruptcy.htm?print_it=t
Wikipedia Encyclopedia, (2003, November 14). Chapter 11, Title, United States Code. Retrieved September 15, 2006, from WikipediA Web site: http://en.wikipedia.org/wiki /Chapter_11
Jeweler, Robin (2005, August 2). CRS Report for Congress. Retrieved September 17, 2006, Web site: http://www.nationalaglawcenter.org/assets/crs/RS20742.pdf
Nelson, Frank (2001). Increase In Bankruptcy Filings May Be An Attempt To Beat Changes Proposed For New Law. Retrieved September 17, 2006, from San Diego Metropolitan Web site: http://www.sandiegometro.com/2001/jul/litigators2.html
Administrative Office of the United States Courts, (1999). Individual Debt Adjustment Bankruptcy - Chapter 11. Retrieved September 17, 2006, from Bankruptcy Judges Division Web site: http://www.ndb.uscourts.gov/forms/Chapter11Information.htm