the period immediately before the filing of a bankruptcy petition
within which transfers are vulnerable to avoidance.
The debtor can choose to reaffirm debts that would otherwise be discharged by the bankruptcy. When a debt is reaffirmed, the parties to the reaffirmed debt have the same rights and liabilities that each had prior to the bankruptcy filing, and the debtor will again be obligated to pay.
An agreement by a debtor to continue paying a dischargeable debt after the bankruptcy, usually for the purpose of keeping collateral or mortgaged property that would otherwise be subject to repossession.
a right to payment, whether or not such right has been earned by
a proceeding, originating in equity, under which a person (receiver)
is appointed to take control of property and to preserve and administer
it as the court directs.
a seller's limited right to reclaim goods when the buyer was
insolvent upon receipt of the goods and the seller was unaware of
the insolvency. Reclamation is governed by UCC §2.702 and is
given qualified recognition in bankruptcy by §546(c).
A written account of the proceedings in a case, including all pleadings, evidence, and exhibits submitted in the course of the case.
a bond posted by the debtor for the purpose of regaining possession
of attached property pending final determination of the suit. In the
bond, the debtor undertakes to redeliver the property or its value if the
creditor ultimately obtains judgment. Unlike a discharging bond, a
redelivery bond does not release the attachment lien.
a right given a Chapter 7 consumer debtor to pay a lump sum to a
secured creditor in an amount equal to the value of any collateral.
A valuation hearing may be necessary to determine the adequacy of
the redemption amount. Section 722 of the Bankruptcy Code permits
the original name for a bankruptcy judge under the Bankruptcy Act
income sufficient and stable enough to support performance of a
Chapter 13 plan by an individual. Regular income is not limited to
wages or salary. Pension, social security, and commission income
may all constitute regular income for Chapter 13 purposes.
in a general sense, resolution of the debtor's financial difficulties
through bankruptcy, so that the debtor's fiscal viability is restored.
More specifically, bankruptcy relief by means of a plan under Chapter 11, 12, or 13 as distinct from liquidation.
Rejection (of a contract)
the estate's repudiation of a prepetition executory contract of the
debtor, so that the estate acquires no performance rights and
obligations under the contract and the other party has a general
unsecured claim for damages.
litigation concerning a matter of Nonbankruptcy law, the outcome of
which affects the rights, liabilities, or administration of the estate.
Because the controversy has an impact on the estate, it falls within
the nonexclusive jurisdiction of the district court. In the absence of
consent by the parties, related proceedings cannot be finally
determined by the bankruptcy court, but must be returned to the
district court for final judgment. Seecore proceedings.
A creditor can ask the judge to lift the automatic stay and permit some action against the debtor or the property of the estate. The motion allows the moving party to take whatever action the court permits. Relief can be absolute, such as foreclosure on property, or limited by allowing the recordation of a notice of default.
the bankruptcy court's return of a matter to the court from which it
the transfer of related proceedings from another court to the
a bankruptcy proceeding where a debtor seeks confirmation of a plan
that will repay creditors while permitting the debtor to retain assets or
continue in business. The proceedings permitted by Chapters 9, 11,
12, and 13 of the Bankruptcy Code are reorganization proceedings.
a repayment plan prepared according to the requirements of Chapter
11 of the Bankruptcy Code.
a possessory action for the recovery of specific tangible personal
property that has been wrongfully taken or retained. As a pre-
judgment remedy, replevin enables a plaintiff to obtain provisional
seizure and possession of property which is the subject matter of the
underlying suit. (Replevin is called "claim and delivery" in some
Once in default, the creditor can repossess the collateral by self-help or with the aid of a court order, dispose of the collateral by public or private foreclosure sale, retain the collateral in satisfaction of the debt, terminate the debtor's right of redemption, add the costs of repossession and foreclosure to the unpaid balance of the debt, and pursue the debtor for any remaining unpaid balance or deficiency.
the report submitted by the sheriff that states the action taken on a
writ or other process.
The act of a court setting aside the decision of a lower court. A reversal is often accompanied by a remand to the lower court for further proceedings.
Revival (of judgment)
the renewal of a judgment that has become dormant because it has not
been executed upon during its period of enforceability.
Rule 2004 Examination
an extended examination of any person pursuant to Federal
Rule of Bankruptcy Procedure 2004 regarding one or more aspects
of a debtor's financial affairs. A Rule 2004 examination is similar
to a deposition in Nonbankruptcy proceedings.
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.”