Bankruptcy Rules for Civil Proceedings
- The U.S. government established the Federal Rules of Bankruptcy Procedure. These rules are designed to ensure every bankruptcy case receives fair and speedy treatment and the proceedings are not expensive. The rules cover any case under Title 11 of the United States Code. Title 11 covers all bankruptcy cases.
- A debtor wishing to file for bankruptcy must present a petition to the court clerk, who will present a copy to the trustee. The petition must be accompanied by the filing fee or arrangements must be made for its payment or waiver. The debtor also must file a list of assets and liabilities, income and expenses, contracts and leases and a financial statement.
- The court must give the debtor, creditors and trustee a 21-day notice of any meeting of creditors, a sale or other use of affected property or a settlement hearing. The clerk must notify all parties 28 days before objections may be filed.
- Creditors must prove their claim in writing before they can be paid. Any objection by the debtor also must be submitted in writing. Payments must be made as soon as possible and a plan must be formed and submitted to the court.
- The debtor is required to attend all hearings and examinations required by the court, disclose the location of any owned property, submit to an inventory by the trustee and notify the court or trustee of any change of address.
- When assets such as property are sold, 21 days of notice must be given to the parties of the bankruptcy. The property must be sold with no liens on it. A record of the property and the name of the purchaser must be filed with the trustee either by the debtor or the auctioneer.
- If one of the parties desires to appeal the decision of the bankruptcy court, the appeal must be filed with the district court or bankruptcy appellate court within 14 days from the decision. The clerk must notify the other party.
Petition
Notices
Payments
Responsibilities
Assets
Appeals
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