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Unformatted text preview: remedies. 2. Guaranty secondarily liable creditor can demand payment if the principal defaults II. Laws assisting debtors A. Homestead exemption B. Personal property exemption III. Bankruptcy A. Bankruptcy Court federal court B. Types of Bankruptcy 1. Chapter 7 Liquidation a. Filing of the petition voluntary or involuntary b. Automatic Stay c. Exempt property d. Role of the trustee collect debtor estate and liquidate e. Secured creditors vs. unsecured creditors f. Discharge g. Exceptions to discharge (1) Taxes (2) Alimony (3) Child Support (4) Student loans (5) Intentional conduct 2. Chapter 11 a. Corporate reorganization b. Debtor in Possession c. Plan of reorganization 3. Chapter 13 Repayment Plan a. individuals b. repayment plan secured and unsecured creditors 4. Chapter 12 Family Farmer Plans...
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This note was uploaded on 04/15/2009 for the course LGS 200 taught by Professor Turner during the Spring '07 term at Alabama.
- Spring '07