upon timely completion of the prescribed act of perfection, some liens
are given retrospective effect so that their priority will date from some
specified earlier time.
Badge of Fraud
suspicious circumstances leading to the inference that a transfer made
by the debtor was motivated by the actual intent to defraud creditors.
The Bankruptcy Amendments and Federal Judgeship Act of 1984,
which made several significant amendments to the Code.
The release, prior to trial, of a person accused of a crime, under specified conditions designed to assure that person's appearance in court when required. Also can refer to the amount of bond money posted as a financial condition of pretrial release.
A legal procedure for dealing with debt problems of individuals and businesses; specifically, a case filed under one of the chapters of title 11 of the United States Code (the Bankruptcy Code).
the name of the bankruptcy laws in effect in the United States
between 1898 and September 30, 1979.
An officer of the Judiciary serving in the judicial districts of Alabama and North Carolina who, like the United States trustee, is responsible for supervising the administration of bankruptcy cases, estates, and trustees; monitoring plans and disclosure statements; monitoring creditors' committees; monitoring fee applications; and performing other statutory duties.
assignments for the benefits of creditors, bulk sales, and composition
Title 11 of the United States Code governs bankruptcy proceedings. Bankruptcy is a matter of federal law and is the same in every state, with the exception of exemptions which may vary from state to state.
The bankruptcy judges in regular active service in each district; a unit of the district court.
The estate consists of legal and equitable interests of the debtor at the commencement of the case. From the estate, an individual debtor can claim certain property exempt; the balance of the estate is liquidated in a Chapter 7 to pay the administrative costs of the proceeding and the claims of creditors according to their priority.
A judicial officer of the United States district court who is the court official with decision-making power over federal bankruptcy cases.
A formal request for the protection of the federal bankruptcy laws. (There is an official form for bankruptcy petitions.)
Bankruptcy Petition Preparer
a person other than an attorney or an attorney's employee
who prepares for compensation a document for filing with
the Bankruptcy Court. An unsupervised paralegal may be a
bankruptcy petition preparer. Bankruptcy petition preparers
are the subject of Bankruptcy Code Section 110.
A bankruptcy case filed pursuant to a particular Chapter of the
Bankruptcy Code. Bankruptcy proceedings are Chapter 7 liquidations
and the various reorganization proceedings provided for by Chapters
9, 11, 12, and 13.
Bankruptcy Reform Act
the 1978 statute which, with amendments, forms the present Code.
the methods developed by societies to resolve the effects of financial
crisis between debtors and creditors.
A private individual or corporation appointed in all Chapter 7 and Chapter 13 cases to represent the interests of the bankruptcy estate and the debtor's creditors.
A trial without a jury, in which the judge serves as the fact-finder.
Best Interests Test
one of the standards for plan confirmation, which requires that the
total amount to be paid on a claim under the plan has a present value
at least equal to what the claimant would have received had the
estate been liquidated under Chapter 7. The requirement of present
value is intended to compensate the claimant for having to await
distribution over time instead of receiving immediate payment upon
liquidation of the estate. The present value of the distribution is
determined by adding interest at the market rate to the face value of
the hypothetical Chapter 7 payment. (§§1129(a)(7), 1225(a)(4) and
(Latin: "good faith".) A person who, in a consensual transaction,
acquires rights in property in good faith (i.e., with subjective honesty)
for value and without actual or constructive notice that the purchase
violates rights in the property held by a person other than the
transferor. Seegood faith purchase.
A written statement submitted in a trial or appellate proceeding that explains one side's legal and factual arguments.
a nonbankruptcy notice procedure affording creditors an opportunity
to file claims when all or substantially all the assets of a debtor are
sold at one time or to limited buyers. Bulk sales are the subject of
Article 6 of the Uniform Commercial Code.
Burden of Proof
The duty to prove disputed facts. In civil cases, a plaintiff generally has the burden of proving his or her case. In criminal cases, the government has the burden of proving the defendant's guilt. (See standard of proof.)
A bankruptcy case in which the debtor is a business or an individual involved in business and the debts are for business purposes.
Business Judgment Rule
a standard for court approval of the trustee's decision to assume or
reject an executory contract, under which the court declines to
interfere with the trustee's decision if it was made in good faith and
was a reasonable business judgment.
Filing Bankruptcy can sometimes be the fastest way to get out of debt and may be the most affordable way to get a fresh financial start. Chapter 7 Bankruptcy can quickly wipe out your debts, increase your credit score, stop wage garnishments, get rid of credit card debt, eliminate medical bills, stop payday loans, stop bill collectors, erase negative credit reporting, and reestablish new credit after bankruptcy. RJ Atkinson – Bankruptcy Lawyers have payment plans to make filing Chapter 7 and Chapter 13 Bankruptcy affordable which include low cost flat fees for Chapter 7 that may be considered the cheapest bankruptcy attorney fees depending on the costs other bankruptcy lawyers charge. Chapter 13 Bankruptcy can save your home from foreclosure, save your car from repossession, lower monthly payments, reduce interest rates, get rid of late fees, reduce credit card interest, payoff high credit card debt, raise your credit score, stop creditor harassment, get rid of debt, reduce debt, eliminate creditor calls at work, stop collection calls, start over financially, discharge debts and/or be debt free in 3 to 5 years. IRS tax problems, tax levies, wage garnishments, back taxes, payroll taxes, income taxes can often be handled in Chapter 13 bankruptcy. Divorce/Bankruptcy – past due child support arrears, alimony, spousal support, and divorce debt can often be handled in chapter 13 bankruptcy. The Law Offices of RJ Atkinson handles debt consolidation, loan modifications, credit card debt settlement, debt negotiation, lawsuit defense, IRS problems, credit card lawsuits, TROs temporary restraining orders to stop foreclosure, forbearance agreements to stop foreclosure, FDCPA Fair Debt Collection Practices Act lawsuits, FCRA Fair Credit Reporting Act lawsuits, credit report disputes, debt collection lawsuits, adversary complaints in bankruptcy, bankruptcies, foreclosure workouts, mortgage short sales, real estate property tax disputes, civil litigation, commercial litigation, tax lawsuits, small business bankruptcy, corporate bankruptcy, business creditor representation, and most every kind of debt related issue or financially based legal problem on a case by case basis.
Pursuant to 11 U.S.C. §528, “We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”