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Joint and Consolidated Cases

A husband and wife can file a joint case under Chapter 7, 11, 12 or 13. Both names are on the same petition and schedules, and only one filing fee is due. Only spouses are allowed to file a joint petition. Former spouses, partners or...

IRA Protection in Bankruptcy

Social Security benefits, company pensions, and 401(k) plans are all shielded by law and are, therefore, not lost to creditors in bankruptcy. Whether that same protection extends to an individual retirement account (IRA) is not clear. The...

Conversion and Dismissal of a Chapter 12 Case

Chapter 12 specifically provides that a debtor may voluntarily convert a Chapter 12 bankruptcy case to a Chapter 7 bankruptcy or dismiss the case at any time. Creditors, however, may not seek the involuntary conversion of a debtor's Chapter 12...

Bankruptcy Reform - Will It Affect Eligibility?

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), Pub. L. No. 109-8, 119 Stat. 23, was signed into law by President George W. Bush on April 20, 2005. It represents one of the most comprehensive overhauls of the...

Voluntary and Involuntary Bankruptcy

A voluntary case is commenced by filing a petition with the bankruptcy court. The commencement of a voluntary case constitutes an order for relief under the relevant chapter. An involuntary case is commenced by filing a petition with the...