bankruptcy law in columbus georgia

What is Bankruptcy?

The dictionary definition of “bankruptcy” is: “a statutory procedure by which a usually insolvent debtor obtains financial relief and undergoes a judicially supervised reorganization or liquidation of the debtor’s assets for the benefit of creditors.” “Statutory Procedure” A statutory procedure is one created by law. Bankruptcy proceedings are governed by the Bankruptcy Code, which is…

bankruptcy

What is the Automatic Stay?

The automatic stay immediately stops all creditor actions upon the filing of a bankruptcy case. There are numerous exceptions, though those exceptions are not applicable in most bankruptcy cases. After a period of time, Creditors are usually given the opportunity to seek relief from the automatic stay to continue their collection efforts. The automatic stay…

bankruptcy rundown

Why This Blog?

Bankruptcy is complicated. It derives its complexity from the dense and often vague and inconsistent wording of the Bankruptcy Code. What results is a legal thicket. My goal is to hack through the underbrush and to make bankruptcy more understandable. This blog is not intended to be legal scholarship on technical areas in the law,…