Chapter 7: You have to wait eight years after you file the first chapter 7 bankruptcy. The Government of the Hong Kong Special Administrative Region may apply immigration controls on entry into, stay in and departure from the Region by persons from foreign states and regions. Spell. Article 7 The land and natural resources within the Hong Kong Special Administrative Region shall be State property. Alloy steel and their applications 5. (b) Notice and Effect.—Any action taken by the Register in response to a national emergency pursuant to subsection (a) shall not be subject to section 701(e) or subchapter II of chapter 5 of title 5, United States Code, and chapter 7 of title 5, United States Code. Beginning in Ancient Rome and journeying to modern bankruptcy law in the United States, this presentation offers an overview of the history and current substantive law of so-called straight consumer bankruptcy in the United States under chapter 7 of the United States Bankruptcy Code. A detailed list of the debtor's monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc. Commencement of a bankruptcy case creates an "estate." Basic mechanical engineering notes for mechanical engineering students.Basic mechanical engineering app almost covers all important Mechanical Engineering topics which are indexed below chapter wise :- Chapter 1 Materials 1. A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Chapter 7: Financial Affairs Article 71 specifies that revenue is entered and spent according to rules of statutes which will be published regularly in the Official Gazette per Article 70. R. Bankr. The number of installments is limited to four, and the debtor must make the final installment no later than 120 days after filing the petition. 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. Generally, excluding cases that are dismissed or converted, individual debtors receive a discharge in more than 99 percent of chapter 7 cases. 11 U.S.C. A Bankruptcy Judge? R. Bankr. Choose from 500 different sets of law vocabulary chapter 7 flashcards on Quizlet. If a debt management plan is developed during required credit counseling, it must be filed with the court. R. Bankr. When you file for Chapter 7, you lose control of the company. battery. The stay arises by operation of law and requires no judicial action. 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. 82 terms. Among other things, the disclosures must advise the debtor of the amount of the debt being reaffirmed and how it is calculated and that reaffirmation means that the debtor's personal liability for that debt will not be discharged in the bankruptcy. § 362(b), and the stay may be effective only for a short time in some situations. Instrument 7 Decision of the Standing Committee of the National People’s Congress on the Addition to the List of National Laws in Annex III to the Basic Law of the Hong Kong Special Administrative Region of the People’s Republic of China (Adopted on 27 October 2005) 123 Chapter 7 is the most common type of bankruptcy and is often referred to as a straight bankruptcy. § 707(a). Parties to Crime and Vicarious Liability. The study of physics can also improve your problem-solving skills. 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. Chapter 7 Dynamics In this chapter, we analyze the dynamic behavior of robot mechanisms. Normally, the fees must be paid to the clerk of the court upon filing. The Central People's Government shall take the necessary steps to ensure that the Hong Kong Special Administrative Region shall continue to retain its status in an appropriate capacity in those international organizations of which the People's Republic of China is a member and in which Hong Kong participates in one capacity or another. Criminal Law - Chapter 7 Key Terms. § 523(c); Fed. (The Official Forms may be purchased at legal stationery stores or download. 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. This is generally an as-is sale of everything. A fee is charged for converting, on request of the debtor, a case under chapter 7 to a case under chapter 11. 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. P. 4005. If it is more than the median, however, you must pass "the means test" -- … 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. For purposes of this publication, references to U.S. trustees are also applicable to bankruptcy administrators. Section 726 of the Bankruptcy Code governs the distribution of the property of the estate. Here you'll find overview articles explaining what bankruptcy is, the difference between Chapter 7 and Chapter 13 bankruptcy, how each type of bankruptcy works, and what bankruptcy can and cannot do. The Central People's Government shall, as necessary, authorize or assist the government of the Region to make appropriate arrangements for the application to the Region of other relevant international agreements. 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. 11 U.S.C. Section 7 Swearing Allegiance. 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. 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. § 302(a). R. Bankr. Choose from 500 different sets of constitution law chapter 7 flashcards on Quizlet. Fed. If the balance is not enough to pay the debt to be reaffirmed, there is a presumption of undue hardship, and the court may decide not to approve the reaffirmation agreement. THE BASIC LAW OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA . Content. The case is begun by filing the official petition, schedules and statement of financial affairs. The Central People's Government shall authorize the Government of the Hong Kong Special Administrative Region to issue, in accordance with law, passports of the Hong Kong Special Administrative Region of the People's Republic of China to all Chinese citizens who hold permanent identity cards of the Region, and travel documents of the Hong Kong Special Administrative Region of the People's Republic of China to all other persons lawfully residing in the Region. Download chapter 7 activity basic concepts street law answer key document. Article 1 The People’s Republic of China is a socialist state governed by a people’s democratic dictatorship that is led by the working class and based on an alliance of workers and peasants. Street Law - Chapter 7 Vocab. Chapter 7 14. 11 U.S.C. The socialist system is the fundamental system of the People’s Republic of China. Deadline for coming into operation: 31 January 2013 If a husband and wife have filed a joint petition, they both must attend the creditors' meeting and answer questions. 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. Contents . To determine whether a presumption of abuse arises, all individual debtors with primarily consumer debts who file a chapter 7 case must complete Official Bankruptcy Form B22A, entitled "Statement of Current Monthly Income and Means Test Calculation - For Use in Chapter 7." Flashcards. 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. 7 Factors that affect Quality Online Instruction. It consists of all legal or equitable interests of the debtor in property as of the commencement of the case, including property owned or held by another person if the debtor has an interest in the property. PLAY. Thus, the debtor will not be permitted to convert the case repeatedly from one chapter to another. 2 Basic Concepts What is law? Liquidation under Chapter 7 is a common form of bankruptcy. The debtor must attend the meeting and answer questions regarding the debtor's financial affairs and property. Gravity. Learn. 11 U.S.C. 2 Basic Concepts What is law? The debtor is only paid if all other classes of claims have been paid in full. In cases under chapters 7, 12, or 13, and sometimes in chapter 11 cases, this ad… Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property. Among other reasons, the court may deny the debtor a discharge if it finds that the debtor: failed to keep or produce adequate books or financial records; failed to explain satisfactorily any loss of assets; committed a bankruptcy crime such as perjury; failed to obey a lawful order of the bankruptcy court; fraudulently transferred, concealed, or destroyed property that would have become property of the estate; or failed to complete an approved instructional course concerning financial management. The NPCSC has identified Articles 1 and 12 as the fundamental provisions of the Basic Law. 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. 25 terms. Basic Law Full Text - chapter (1) Chapter I General Principles. If the debtor decides to reaffirm a debt, he or she must do so before the discharge is entered. The discharge in a chapter 13 case is somewhat broader than in a chapter 7 case. 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. Debtors should also be aware that out-of-court agreements with creditors or debt counseling services may provide an alternative to a bankruptcy filing. The bankruptcy law prevents people from repeatedly running up debts and having them discharged in bankruptcy court. 11 U.S.C. 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. In addition, no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. Under Chapter 7, you can eliminate most of your unsecured debts and some secured debts by surrendering your assets. PLAY. 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. Each debtor in a joint case (both husband and wife) can claim exemptions under the federal bankruptcy laws. Unless the debtor is represented by an attorney, the bankruptcy judge must approve the reaffirmation agreement. Chapter 7 bankruptcy, also called "straight" or "liquidation" bankruptcy, is so named because the law is contained in Chapter 7 of the federal Bankruptcy Code. The discharge eliminates debts in a similar fashion regardless of the city or state you file in. Match. General rules, standards and principles are the primary forces of social control in any society; individual directions cannot be given for everything. P. 1006. P. 2003(a). 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. 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. The debtor should consult an attorney to determine the exemptions available in the state where the debtor lives. Chapter 7: The court may dismiss your case or convert it to a Chapter 13 bankruptcy. 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. 11 U.S.C. OTHER SETS BY THIS CREATOR. Debts not discharged include debts for alimony and child support, certain taxes, debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit, debts for willful and malicious injury by the debtor to another entity or to the property of another entity, debts for death or personal injury caused by the debtor's operation of a motor vehicle while the debtor was intoxicated from alcohol or other substances, and debts for certain criminal restitution orders. They are subjective public rights with the constitutional rank which bind all institutions and functions of the state. 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.. The law, therefore, refers to classes of persons and classes of acts and things. Fed. Constitution of Saudi Arabia. § 523(a). Learn law vocabulary chapter 7 with free interactive flashcards. Chapter 7 bankruptcy is the most popular form of bankruptcy relief for individuals. Even if filing jointly, a husband and wife are subject to all the document filing requirements of individual debtors. The Concept of Law is a 1961 book by the legal philosopher HLA Hart and his most famous work. The Concept of Law is a 1961 book by the legal philosopher HLA Hart and his most famous work. The Central People's Government shall, where necessary, facilitate the continued participation of the Hong Kong Special Administrative Region in an appropriate capacity in those international organizations in which Hong Kong is a participant in one capacity or another, but of which the People's Republic of China is not a member. The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor. 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. § 524(d) and (m). Most chapter 7 cases involving individual debtors are no asset cases. P. 1007(b). P. 4004(c). But it must be court approved, so a hearing will be held after notice to all interested persons. It is available to individuals who cannot make regular, monthly, payments toward their debts. §§ 101(41), 109(b). § 727(a)(1). If a joint petition is filed, only one filing fee, one administrative fee, and one trustee surcharge are charged. If you don't see any interesting for you, use our search form on bottom ↓ . Choose from 500 different sets of law chapter 2 basic flashcards on Quizlet. Between 21 and 40 days after the petition is filed, the case trustee (described below) will hold a meeting of creditors. But filing the petition does not stay certain types of actions listed under 11 U.S.C. Fed. § 303. From Dismemberment to Discharge: The History and Basic Law of Consumer Bankruptcy in Chapter 7. The Bankruptcy Code requires that reaffirmation agreements contain an extensive set of disclosures described in 11 U.S.C. § 727; Fed. Generally speaking, the debtor's creditors are paid from nonexempt property of the estate. Fundamentals of Law Chapter 7. §§ 701, 704. 11 U.S.C. R. Bankr. Test. 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. R. Bankr. Chapter 7 is a good option for someone who earns less than the state median income since they would probably struggle to pay off their debts in a payment plan. A reaffirmation is an agreement between the debtor and the creditor that the debtor will remain liable and will pay all or a portion of the money owed, even though the debt would otherwise be discharged in the bankruptcy. Sole proprietorships may also be eligible for relief under chapter 13 of the Bankruptcy Code. 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. 11 U.S.C. 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. The debtor has no liability for discharged debts. 11 U.S.C. 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. The purpose of this page is to provide basic information about the key forms and procedures involved in filing for Chapter 7 bankruptcy. 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. Log in Register Recommend to librarian Print publication year: 2018; Online publication date: November 2018; 7 - Behind the Text of the Basic Law. If the trustee later recovers assets for distribution to unsecured creditors, the Bankruptcy Court will provide notice to creditors and will allow additional time to file proofs of claim. The court official with decision-making power over federal bankruptcy cases is the United States bankruptcy judge, a judicial officer of the United States district court. Administrative Oversight and Accountability, Chronological History of Authorized Judgeships - Courts of Appeals, Chronological History of Authorized Judgeships - District Courts. § 524(k). 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. They are not available from the court.). 11 U.S.C. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Furthermore, physics has retained the most basic aspects of science, so it is used by all of the sciences. Created by. Moreover, a bankruptcy discharge does not extinguish a lien on property. During this meeting, the trustee puts the debtor under oath, and both the trustee and creditors may ask questions. Under the rules enacted in 2005, the first step in figuring out whether you can file for Chapter 7 bankruptcy is to measure your "current monthly income" against the median income for a household of your size in your state. Match. 28 U.S.C. Question Number Answer Level 1 Head Reference for Answer Difficulty 1 C. What is an Information System? Learn. 11 U.S.C. Write. Id. Chapter 7 bankruptcy rules determine who qualifies, how to file, and what debt is … You'll file the bankruptcy petition. § 101(10A). § 727(d). Income criteria established by bankruptcy law determine which debtors may file for Chapter 7 bankruptcy. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. But not all of an individual's debts are discharged in chapter 7. § 341(c). Qualifying for Chapter 7 Bankruptcy. However, a condition of the debtor's voluntary conversion is that the case has not previously been converted to chapter 7 from another chapter. STUDY. Chapter 8 : Control Bodies [ … Debtors should be aware that there are several alternatives to chapter 7 relief. The Basic Law of the Hong Kong Special Administrative Region of the People’s Republic of China . A discharge releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor. There is no fee for converting from chapter 7 to chapter 13. § 1930(a). The Hong Kong Special Administrative Region may, using the name "Hong Kong, China", participate in international organizations and conferences not limited to states. 11 U.S.C. Unsecured debts are debts not secured with collateral, including most personal loans and credit cards. Parts of the Robotic Kit. § 502(b)(9). Chapter VI Cultural and Social Affairs . Polieus. Some trustees provide written information on these topics at or before the meeting to ensure that the debtor is aware of this information. Chapter; Aa; Aa; Get access. Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the People's Republic of China, participate in international organizations or conferences in appropriate fields limited to states and affecting the Region, or may attend in such other capacity as may be permitted by the Central People's Government and the international organization or conference concerned, and may express their views, using the name "Hong Kong, China". Learn constitution law chapter 7 with free interactive flashcards. Filing a petition under chapter 7 "automatically stays" (stops) most collection actions against the debtor or the debtor's property. 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. The Central People's Government shall assist or authorize the Government of the Hong Kong Special Administrative Region to conclude visa abolition agreements with foreign states or regions. Basic Law of Saudi Arabia. Important Notice . What is most useful is the knowledge of the basic laws of physics and skill in the analytical methods for applying them. 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.. You start the case by submitting a packet of papers (called the … 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. Secured creditors may retain some rights to seize property securing an underlying debt even after a discharge is granted. 11 U.S.C. 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. Efficient algorithms have been developed that allow the dynamic computations to be carried out on-line in real time. Individual debtors with primarily consumer debts have additional document filing requirements. § 522(m). Among the schedules that an individual debtor will file is a schedule of "exempt" property. (The Official Forms may be purchased at legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. If there is a buyer for all of the assets, the trustee will, rather than hire an auctioneer to sell things on a piecemeal basis, consider such an offer. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged debt. 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. Preamble . If you are deciding if bankruptcy is right for you, the first step is to learn about bankruptcy. Article 2. The "current monthly income" received by the debtor is a defined term in the Bankruptcy Code and means the average monthly income received over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from nondebtors and including income from the debtor's spouse if the petition is a joint petition, but not including social security income or certain payments made because the debtor is the victim of certain crimes. DUI Law. Moreover, the court may dismiss a chapter 7 case filed by an individual whose debts are primarily consumer rather than business debts if the court finds that the granting of relief would be an abuse of chapter 7. 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. Exempt Property. The fee charged is the difference between the filing fee for a chapter 7 and the filing fee for a chapter 11. Terms in this set (9) Complicity. This site is maintained by the Administrative Office of the U.S. Courts on behalf of the Federal Judiciary. You're permitted to keep certain "exempt … 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 9 18. 7 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 … Download chapter 7 activity basic concepts street law answer key document. § 524(k). Currently, the difference is $922. §§ 109, 111. July 2020 edition. In other jurisdictions, the individual debtor has the option of choosing between a federal package of exemptions or the exemptions available under state law. The information contained in this booklet has no legal status, and is made available for information only and should not be relied on as an official version of the Basic Law and related constitutional instruments herein. Chapter 7. 11 U.S.C. 11 U.S.C. With the court's permission, however, individual debtors may pay in installments. R. Bankr. Chapter I General Principles . If you are deciding if bankruptcy is right for you, the first step is to learn about bankruptcy. The debtor must sign a written reaffirmation agreement and file it with the court. § 721. Chapter VIII Interpretation and Amendments of the Basic Law . Basic Dynamic Equations In this section we derive the equations of motion for an … 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 state's public holidays are Id al-Fitr and Id al-Adha.Its calendar is the Hegira calendar. 11 U.S.C. Contents. The judge will then take bids and sell the assets to the highest bidder. Effective Workplace Communication Skills. 28 U.S.C. Chapter 7 provides relief to debtors regardless of the amount of debts owed or whether a debtor is solvent or insolvent. Consent that is conveyed through spoken or written words is. The Bankruptcy Code allows an individual debtor (4) to protect some property from the claims of creditors because it is exempt under federal bankruptcy law or under the laws of the debtor's home state. Quality System, Chapter 7 of the GMP Guide has been revised in order to provide updated guidance on outsourced GMP regulated activities beyond the current scope of contract manufacture and analysis operations.
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