Bankruptcy is a product of federal law. The bankruptcy laws are contained in Title 11 (and 11A) of the United States Code. The United States Government Printing Office provides online access to the Code.
Bankruptcy law is found in Title 11 of the United States Code. However, certain other federal laws may affect a debtor's decision to file for bankruptcy protection. For example, a debtor may consider a creditor's ability to collect and report on his debts under the Federal Fair Debt Collection Act and the Consumer Credit Protection Act (Title 15 of the U.S. Code). The Federal Trade Commission provides online access to Code.
Bankruptcy is a product of federal law. However, certain state laws - specifically those pertaining to a creditor's ability to collect a debt - may affect a debtor's decision to file for bankruptcy. The Texas Civil Practice & Remedies Code contains some of the state's laws pertaining to debt collection - Ch. 34 (Execution on Judgments), Chs. 61-66 (Extraordinary Remedies) and Ch. 16 (Statute of Limitations for Filing Suit). The Texas Finance Code contains the Texas Debt Collection Act. The Texas State Legislature provides online access to the Codes. The Codes are downloadable in pdf and Word formats.
Bankruptcy is a product of federal law. However, certain state laws come into play as well. For example, one issue that may arise during a bankruptcy case is whether a debtor's property is subject to any statutory liens and what, if anything, the debtor can do to remove them. Texas laws relating to the validity of, the requirements for placing, and the effects of bankruptcy on, statutory liens against a debtor's property are found in the Texas Property Code (specifically, but not limited to, Title 5). The Texas Legislature provides online access to the Code. The Code is downloadable in pdf and Word formats.
Bankruptcy is a product of federal law. However, certain state laws come into play as well. For example, one issue that arises during a bankruptcy case is whether certain property is "exempt" or "non-exempt." In a Chapter 7 proceeding, a debtor can keep "exempt" property but must relinquish "non-exempt" property (if he has any; most Chapter 7 debtors do not) to pay his creditors. In a Chapter 13 proceeding, a debtor is not required to relinquish any property, but he must pay certain creditors at least as much as the value of his "non-exempt" property. State law determines whether property is "exempt" or "non-exempt." For Texas, the laws can be found in the Property Code (Ch 41 and Ch 42). The Texas State Legislature provides online access to the Code. The Code is downloadable in pdf or Word formats.
Bankruptcy is a product of federal law. However, many state laws come into play as well. For example, one issue that may arise during a bankruptcy case is whether a debtor's property is subject to any taxing authorities regarding personal and/or real property. Texas laws relating to taxes, and the effects of bankruptcy against a debtor's property are found in the Texas Property Code and the Texas Property Tax Code. The Texas Legislature provides online access to the Code. The Code is downloadable in pdf and Word formats.
