Bankruptcy is not an easy process, and the average individual does not possess the knowledge to enter into
proceedings on
his or her own. The paper argues that professionals should always be consulted as they can determine which
bankruptcy is appropriate or whether bankruptcy is necessary at all. The paper also looks at the bankruptcy court, which has been established to protect and assist individuals, companies, and corporations in their
proceedings. Paper Outline A. Federal Bankruptcy Code a. Explanation of the Origin b. Federal Bankruptcy Law c. Jurisdiction of Courts B. Chapter 7 Liquidation Bankruptcy a. Procedure i. Filing a Petition ii. Meeting of Creditors iii. Appointment of Trustee iv. Proof of Claims b. Automatic Stay c. Case Dismissal d. Alternatives to Chapter 7 Bankruptcy e. Discharge C. Chapter 11 Reorganization Bankruptcy a. Why choose Chapter 11 b. Plan of Reorganization i. Who develops the Plan ii. Steps in the Plan c. Discharge D. Chapter 13 Consumer Debt Adjustment a. Chapter 13 Eligibility b. Important Features c. Filing d. Automatic Stay e. Plan of Payment f. Confirmation of the Plan g. Discharge E. Chapter 13 or Chapter 7 F. Rights of Creditors G. Conclusion