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Bankruptcy News
Applicability Of Chapters
(a) Except as provided in section 1161 of this title, chapters 1, 3, and 5 of this title apply in a case under chapter 7, 11, 12, or 13 of this title. (b) Subchapters I and II of chapter 7 of this title apply only in a case under such chapter. (c) Subchapter III of chapter 7 of this title applies only in a case under such chapter concerning a stockbroker. (d) Subchapter IV of chapter 7 of this title applies only in a case under such chapter concerning a commodity broker. (e) Scope of Application.— Subchapter V of chapter 7 of this title shall apply only in a case under such chapter concerning the liquidation of an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 of the Federal Deposit Insurance Corporation Improvement Act of 1991. (f) Except as provided in section 901 of this title, only chapters 1 and 9 of this title apply in a case under such chapter 9. (g) Except as provided in section 901 of this title, subchapters I, II, and III of chapter 11 of this title apply only in a case under such chapter. (h) Subchapter IV of chapter 11 of this title applies only in a case under such chapter concerning a railroad. (i) Chapter 13 of this title applies only in a case under such chapter. (j) Chapter 12 of this title applies only in a case under such chapter.
There are a number of protections for consumers in the Fair Debt Collections Practices Act
One important point - you are responsible for your debts. Nothing in this law gives you the right to skip out on your bills. It just protects you from unscrupulous collection agencies. And the lender can take legal action to collect the money.
Newsroom
News about Bankruptcy in Greensboro and nationwide:
Definition:
Liquidation proceedings; generally assets are sold by a trustee and the company ceases operation. (Individuals may file Chapter 7 also.)
Chapter Eleven
Definition:
Reorganization proceedings, generally for business entities; the debtor maintains control of the business in Chapter 11 (unless the Court appoints a trustee).
Period of exclusivity
Definition:
Personal bankruptcy - filed by an individual; also called a household bankruptcy, consumer bankruptcy or wage-earner bankruptcy. (see Chapter 13 and also Chapter 12).
If you live in the following cities and need a Bankruptcy attorney you should contact
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Apex
Asheboro
Asheville
Burlington
Cary
Chapel Hill
Charlotte
Clayton
Concord
Durham
Elizabeth City
Fayetteville
Fort Bragg
Garner
Gastonia
Goldsboro
Greensboro
Greenville
Henderson
Hickory
High Point
Jacksonville
Kernersville
Lenoir
Lexington
Lincolnton
Lumberton
Matthews
Monroe
Morganton
Mount Airy
Raeford
Raleigh
Reidsville
Sanford
Statesville
Thomasville
Wake Forest
Wilmington
Wilson
Winston Salem
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