Federal Bankruptcy Rule 6001 requires the party asserting the validity of a transfer under § 549 of the Bankruptcy Code to have the burden of proof of proving the validity of such a transfer.

Section 101(3) of the Bankruptcy Code defines an “individual with regular income” as an “individual whose income is sufficiently stable and regular to enable such individual to make payments under a plan under chapter 13 of this title, other than a stockbroker or a commodity broker.”

Section 101(14A) of the Bankruptcy Code defines “domestic support obligations” as, a debt that accrues before, on, or after the date of the order for relief in a case under this title, including interest that accrues on that debt as provided under applicable nonbankruptcy law notwithstanding any other provision of this title, that is— (A)…Read more

Section 101(13A) of the Bankruptcy Code defines “debtor’s principal residence” as: a residential structure if used as the principal residence by the debtor, including incidental property, without regard to whether that structure is attached to real property; and includes an individual condominium or cooperative unit, a mobile or manufactured home, or trailer if used as…Read more

The Bankruptcy Code defines as “debt relief agency” as: any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration, or who is a bankruptcy petition preparer under section 110, but does not include— (A) any person who is an officer, director, employee, or…Read more

Bankruptcy Code Section 101(10A) defines “current monthly income” as: the average monthly income from all sources that the debtor receives (or in a joint case the debtor and the debtor’s spouse receive) without regard to whether such income is taxable income, derived during the 6-month period ending on— (i) the last day of the calendar…Read more

Bankruptcy Code Section 101(8) defines consumer debt as “debt incurred by an individual primarily for a personal, family, or household purpose.”    

When you attend the meeting of creditors (sometimes called the 341 meeting, after the section of the Bankruptcy Code), you need to bring four things: A picture ID; Your Social Security card; Any pay advices (paystubs) that you have received since your attorney filed your bankruptcy petition; and Statements for all of your bank accounts…Read more

If you are considering bankruptcy, one of your concerns may be whether you could lose your professional license.  Fortunately, the Bankruptcy Code prohibits governmental unit from denying, revoking, or suspending your professional license because you filed bankruptcy. Bankruptcy Code Section 525(a) states, [A] governmental unit may not deny, revoke, suspend, or refuse to renew a…Read more

Section 521(e)(2)(A) requires debtors to provide a copy of their tax return “for the most recent tax year ending immediately before the commencement of the case and for which a Federal income tax return was filed”.  Your attorney will probably ask you to sign an IRS Form 4506-T, which allow her to get a copy…Read more