11 U.S.C. Unsecured debts generally may be defined as those for which the extension of credit was based purely upon an evaluation by the creditor of the debtor's ability to pay, as opposed to secured debts, for which the extension of credit was based upon the creditor's right to seize collateral on default, in addition to the debtor's ability to pay. § 707(a). 11 U.S.C. Section 7 Swearing Allegiance . Basic Law Full Text - PDA - chapter (3) Chapter III Fundamental Rights and Duties of the Residents Article 24 Residents of the Hong Kong Special Administrative Region ("Hong Kong residents") shall include permanent residents and non-permanent residents. 11 U.S.C. They must file: a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling; evidence of payment from employers, if any, received 60 days before filing; a statement of monthly net income and any anticipated increase in income or expenses after filing; and a record of any interest the debtor has in federal or state qualified education or tuition accounts. Chapter VI Cultural and Social Affairs . 11 U.S.C. Fed. Learn. International agreements to which the People's Republic of China is not a party but which are implemented in Hong Kong may continue to be implemented in the Hong Kong Special Administrative Region. Here's an outline of For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. 25 terms. Unsecured debts are debts not secured with collateral, including most personal loans and credit cards. But filing the petition does not stay certain types of actions listed under 11 U.S.C. Eligibility is typically determined by income, with the state median income serving as a benchmark. The debtor should consult an attorney to determine the exemptions available in the state where the debtor lives. R. Bankr. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensive reorganization. 28 U.S.C. In addition, if the debtor is a business, the bankruptcy court may authorize the trustee to operate the business for a limited period of time, if such operation will benefit creditors and enhance the liquidation of the estate. The above passports and documents shall be valid for all states and regions and shall record the holder's right to return to the Region. A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. If you don't see any interesting for you, use our search form on bottom ↓ . Id. Basic Criminal Law, Fifth Edition, provides a thorough grounding in criminal law, its history, how it is practiced today, and what trends will take it into the future. (The Official Forms may be purchased at legal stationery stores or download. The Bankruptcy Code requires a reaffirmation hearing if the debtor has not been represented by an attorney during the negotiating of the agreement, or if the court disapproves the reaffirmation agreement. The state's public holidays are Id al-Fitr and Id al-Adha.Its calendar is the Hegira calendar. § 341(c). Preamble . The case is begun by filing the official petition, schedules and statement of financial affairs. Currently, the difference is $922. 11 U.S.C. Chapter 1. Trustee Appointment and Meeting of Creditors. 2 Basic Concepts What is law? Buy the print book Check if you have access via personal or institutional login . Debts for money or property obtained by false pretenses, debts for fraud or defalcation while acting in a fiduciary capacity, and debts for willful and malicious injury by the debtor to another entity or to the property of another entity will be discharged unless a creditor timely files and prevails in an action to have such debts declared nondischargeable. Chapter 7 Dynamics In this chapter, we analyze the dynamic behavior of robot mechanisms. sister projects: Wikipedia article, quotes, Wikidata item. The bankruptcy administrator program is administered by the Administrative Office of the United States Courts, while the U.S. trustee program is administered by the Department of Justice. The basic principles of Hong Kong's governance under Chinese sovereignty mirror those in the Sino-British Joint Declaration, and most of them are set out in the first chapter of the Basic Law. Street Law Chapter 7 Crime in America. Write. 11 U.S.C. This chapter of the Bankruptcy Code provides for "liquidation" - the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors. § 343. Match. Chapter V Economy . The Bankruptcy Code requires the trustee to ask the debtor questions at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy such as the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. But if the case appears to be an "asset" case at the outset, unsecured creditors (7) must file their claims with the court within 90 days after the first date set for the meeting of creditors. R. Bankr. Annex I: Method for the Selection of the Chief Executive of the Macao Special Administrative Region When you file for Chapter 7, you lose control of the company. Deadline for coming into operation: 31 January 2013 A list of all creditors and the amount and nature of their claims; The source, amount, and frequency of the debtor's income; A list of all of the debtor's property; and. 11 U.S.C. Basic Law of Saudi Arabia. Chapter 7, entitled Liquidation, contemplates an orderly, court-supervised procedure by which a trustee takes over the assets of the debtor’s estate, reduces them to cash, and makes distributions to creditors, subject to the debtor’s right to retain certain exempt property and the rights of secured creditors. Even though most Chapter 13 filers make too much money to qualify for Chapter 7 bankruptcy, many debtors choose to file for Chapter 13 bankruptcy because it offers many benefits not available in Chapter 7 (such as the ability to catch up on missed mortgage payments or strip wholly unsecured junior liens from your house). Parts of the Robotic Kit. With the court's permission, however, individual debtors may pay in installments. If a debt management plan is developed during required credit counseling, it must be filed with the court. For purposes of this publication, references to U.S. trustees are also applicable to bankruptcy administrators. Commencement of a bankruptcy case creates an "estate." P. 4007(c). Gravity. Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. But it must be court approved, so a hearing will be held after notice to all interested persons. Alloy steel and their applications 5. Chapter 8 : Control Bodies [ … Chapter 7 bankruptcy rules determine who qualifies, how to file, and what debt is eligible for discharge. Find information about bankruptcy laws, including answers to some of the most frequently asked questions. In the typical no asset chapter 7 case, there is no need for creditors to file proofs of claim because there will be no distribution. Having said that, each state as well as the federal government has enacted legislation that dictates what property debtors can keep through the Chapter 7 bankruptcy process. 11 U.S.C. Because a chapter 7 discharge is subject to many exceptions, debtors should consult competent legal counsel before filing to discuss the scope of the discharge. The estate technically becomes the temporary legal owner of all the debtor's property. § 707(b). P. 4005. They modelled these new laws after the image of Chapter 11 of the U.S. Bankruptcy Code. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. The debtor may repay any debt voluntarily, however, whether or not a reaffirmation agreement exists. Chapter 7 bankruptcy rules determine who qualifies, how to file, and what debt is … Terms in this set (23) A physician who performs a surgical procedure on a patient without obtaining the patient's consent may be liable for. The dynamic behavior is described in terms of the time rate of change of the robot configuration in relation to the joint torques exerted by the actuators. Street Law - Chapter 7 Vocab. 11 terms. If you qualify, Chapter 7 bankruptcy may allow you to discharge a variety of debts, but typically excludes obligations like child support, student loans or … Spell. STUDY. The NPCSC has identified Articles 1 and 12 as the fundamental provisions of the Basic Law. The Bankruptcy Code requires that reaffirmation agreements contain an extensive set of disclosures described in 11 U.S.C. STUDY. In order to preserve their independent judgment, bankruptcy judges are prohibited from attending the meeting of creditors. Understanding Chapter 7 Bankruptcy Counseling and Forms. The trustee may also attempt to recover money or property under the trustee's "avoiding powers." The Concept of Law is a 1961 book by the legal philosopher HLA Hart and his most famous work. The case is begun by filing the official petition, schedules and statement of financial affairs. THE BASIC LAW OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA . Chapter VII External Affairs Article 150 Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the Government of the People's Republic of China, participate in negotiations at the diplomatic level directly affecting the Region conducted by the Central People's Government. 11 terms. The trustee's avoiding powers include the power to: set aside preferential transfers made to creditors within 90 days before the petition; undo security interests and other prepetition transfers of property that were not properly perfected under nonbankruptcy law at the time of the petition; and pursue nonbankruptcy claims such as fraudulent conveyance and bulk transfer remedies available under state law. Subject to the means test described above for individual debtors, relief is available under chapter 7 irrespective of the amount of the debtor's debts or whether the debtor is solvent or insolvent. Debtors must also provide the assigned case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed during the case (including tax returns for prior years that had not been filed when the case began). 11 U.S.C. § 362. The debtor may also pay the $75 administrative fee and the $15 trustee surcharge in installments. The Kingdom of Saudi Arabia is a sovereign Arab Islamic state with Islam as its religion; Allah's Book and the Sunnah of His Prophet, Allah's prayers and peace be upon him, are its constitution, Arabic is its language and Riyadh is its capital.. 11 U.S.C. 11 U.S.C. § 706(a). The bankruptcy law prevents people from repeatedly running up debts and having them discharged in bankruptcy court. § 727(d). 4a Basic Law). If it is more than the median, however, you must pass "the means test" -- … § 522(b). In return, the creditor promises that it will not repossess or take back the automobile or other property so long as the debtor continues to pay the debt. Consular and other official missions established in Hong Kong by states which have formal diplomatic relations with the People's Republic of China may be maintained. Fundamentals of Law Chapter 7. If the debtor's "current monthly income" (1) is more than the state median, the Bankruptcy Code requires application of a "means test" to determine whether the chapter 7 filing is presumptively abusive. The bankruptcy judge may decide any matter connected with a bankruptcy case, such as eligibility to file or whether a debtor should receive a discharge of debts. (The Official Forms may be purchased at legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. 11 U.S.C. Under Chapter 7, you can eliminate most of your unsecured debts and some secured debts by surrendering your assets. The debtor has no liability for discharged debts. Chapter 7 bankruptcy is a legal process that can help individuals get relief from debts by discharging — or clearing — some or all of what’s owed. Important Notice . § 704(b). § 524(k). §§ 109(g), 362(d) and (e). Basic Law Full Text - index.html Printed version: available free of charge at any of the District Offices under the Home Affairs Department PDF version: click here to download HTML version: see below Important Notice. Unless the debtor overcomes the presumption of abuse, the case will generally be converted to chapter 13 (with the debtor's consent) or will be dismissed. If you are deciding if bankruptcy is right for you, the first step is to learn about bankruptcy. Debtors should also be aware that out-of-court agreements with creditors or debt counseling services may provide an alternative to a bankruptcy filing. If a husband and wife have filed a joint petition, they both must attend the creditors' meeting and answer questions. Effective Workplace Communication Skills. Exempt Property. In other jurisdictions, the individual debtor has the option of choosing between a federal package of exemptions or the exemptions available under state law. In cases under chapters 7, 12, or 13, and sometimes in chapter 11 cases, this ad… Unless the debtor is represented by an attorney, the bankruptcy judge must approve the reaffirmation agreement. This site is maintained by the Administrative Office of the U.S. Courts on behalf of the Federal Judiciary. The basic idea behind Chapter 7 is this: The bankruptcy trustee appointed to your case sells your property to pay off your creditors and ends with a discharge of qualifying debt, such as credit card balances, medical debt, and personal loans.. While a Chapter 13 bankruptcy reorganizes debt into a repayment plan, a Chapter 7 bankruptcy, also known as a "liquidation" bankruptcy, erases all debt that is legally capable of expungement. A particular advantage of chapter 13 is that it provides individual debtors with an opportunity to save their homes from foreclosure by allowing them to "catch up" past due payments through a payment plan. Gravity. Chapter 13: You must wait two years after you file the first chapter 13 bankruptcy to get a second discharge. You'll file the bankruptcy petition. The Government of the Hong Kong Special Administrative Region shall be responsible for their management, use and development and for their lease or grant to individuals, legal persons or organizations for use or development. Moreover, a bankruptcy discharge does not extinguish a lien on property. Chapter 7 is the most common form of bankruptcy in the United States. From Dismemberment to Discharge: The History and Basic Law of Consumer Bankruptcy in Chapter 7. The application to the Hong Kong Special Administrative Region of international agreements to which the People's Republic of China is or becomes a party shall be decided by the Central People's Government, in accordance with the circumstances and needs of the Region, and after seeking the views of the government of the Region. R. Bankr. These forms prompt you to list all of your assets and all of your debts, along with some recent financial history.This is the most important and most time consuming part of a bankruptcy filingIt is important that every creditor is listed in the schedules with an accurate mailing address. Section 7 Swearing Allegiance. § 523(c); Fed. § 727(a)(1). In North Carolina and Alabama, bankruptcy administrators perform similar functions that U.S. trustees perform in the remaining 48 states. R. Bankr. The trustee accomplishes this by selling the debtor's property if it is free and clear of liens (as long as the property is not exempt) or if it is worth more than any security interest or lien attached to the property and any exemption that the debtor holds in the property. If the debtor's income is less than 150% of the poverty level (as defined in the Bankruptcy Code), and the debtor is unable to pay the chapter 7 fees even in installments, the court may waive the requirement that the fees be paid. Chapter V Economy Chapter VI Culture and Social Affairs Chapter VII External Affairs Chapter VIII Interpretation and Amendment of the Basic Law Chapter IX Supplementary Provisions Annex I Method for the Selection of the Chief Executive of … Chapter; Aa; Aa; Get access. Learn. The primary role of a chapter 7 trustee in an asset case is to liquidate the debtor's nonexempt assets in a manner that maximizes the return to the debtor's unsecured creditors. Learn law chapter 2 basic with free interactive flashcards. Parties to Crime and Vicarious Liability. In cases where a federal or state law or public ordinance is alleged to be in violation of these fundamental rights, the Basic Law provides the constitutional complaint with an appeal to the Federal Constitutional Court (Article 93 paragraphs 1 No. Roadways to the Federal Bench: Who Me? The debtor must sign a written reaffirmation agreement and file it with the court. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. Furthermore, physics has retained the most basic aspects of science, so it is used by all of the sciences. If the debtor decides to reaffirm a debt, he or she must do so before the discharge is entered. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even telephone calls demanding payments. Question Number Answer Level 1 Head Reference for Answer Difficulty 1 C. What is an Information System? These videos will give you basic information about the process, the relief it offers, and how to find the legal help you may need. P. 4004(c). What is most useful is the knowledge of the basic laws of physics and skill in the analytical methods for applying them. These forms prompt you to list all of your assets and all of your debts, along with some recent financial history.This is the most important and most time consuming part of a bankruptcy filingIt is important that every creditor is listed in the schedules with an accurate mailing address. Within 10 days of the creditors' meeting, the U.S. trustee will report to the court whether the case should be presumed to be an abuse under the means test described in 11 U.S.C. Abuse is presumed if the debtor's aggregate current monthly income over 5 years, net of certain statutorily allowed expenses, is more than (i) $12,850, or (ii) 25% of the debtor's nonpriority unsecured debt, as long as that amount is at least $7,700. The Hong Kong Special Administrative Region may on its own, using the name "Hong Kong, China", maintain and develop relations and conclude and implement agreements with foreign states and regions and relevant international organizations in the appropriate fields, including the economic, trade, financial and monetary, shipping, communications, tourism, cultural and sports fields. Fed. They are subjective public rights with the constitutional rank which bind all institutions and functions of the state. These duties include establishing a panel of private trustees to serve as trustees in chapter 7 cases and supervising the administration of cases and trustees in cases under chapters 7, 11, 12, and 13 of the Bankruptcy Code. Choose from 500 different sets of law chapter 2 basic flashcards on Quizlet. Do' s and Don’ts Most people would agree that the law governs human behaviour by rules. A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. lindsaysnowhite. 7.1 Newton-Euler Formulation of Equations of Motion 7.1.1. R. Bankr. However, a condition of the debtor's voluntary conversion is that the case has not previously been converted to chapter 7 from another chapter. PLAY. Chapter I General Principles . 28 U.S.C. § 721. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property. 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The attorney must also certify that the debtor was fully informed and voluntarily made the agreement and that reaffirmation of the debt will not create an undue hardship for the debtor or the debtor's dependants. Fed. 11 U.S.C. Depending on individual circumstances, if a debtor wishes to keep certain secured property (such as an automobile), he or she may decide to "reaffirm" the debt. The purpose of this page is to provide basic information about the key forms and procedures involved in filing for Chapter 7 bankruptcy. The individual debtor's primary concerns in a chapter 7 case are to retain exempt property and to receive a discharge that covers as many debts as possible. Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the Government of the People's Republic of China, participate in negotiations at the diplomatic level directly affecting the Region conducted by the Central People's Government. 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