Adversary Proceedings

Under Bankruptcy Rules, an adversary proceeding may be filed in a debtor's bankruptcy action for certain specific reasons. Creditors may initiate adversary proceedings to determine the validity or priority of a lien, to determine the validity of a debt, to obtain an injunction, or to subordinate a claim of another creditor.

Time and Necessity of Filing Proofs of Claims

A "claim" in bankruptcy is (1) a right to payment, whether or not reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured; or (2) a right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured.

The "Clean Slate" of Chapter 7 Bankruptcy

What is Chapter 7 bankruptcy?

Chapter 12 Discharge

Upon successful completion of all payments under a chapter 12 plan, the debtor will receive a "discharge" which extinguishes the debtor's obligation to pay any unsecured debts that were included in the plan, even though they may not have been paid in full. After the discharge has been granted, those creditors whose claims were provided for in full or in part under the plan may no longer initiate or continue any legal or other action against the debtor to collect the discharged obligations.

Overview of Chapter 12 "Family Farmer" Bankruptcy

Chapter 12 is a part of a federal law called the Bankruptcy Code. Debtors and the United States Bankruptcy Courts must follow its provisions. Each Chapter applies to a different type of debtor. For example, Chapter 13 applies to consumers or individual debtors, with regular income who want to repay their debts under a bankruptcy plan. Chapter 12 applies to certain family farmers.