Bankruptcy Basics Videos
This video series from the US Bankruptcy Courts has information on the requirements for bankruptcy cases. Some of this information may be out of date. Confirm with an attorney before acting on this information.
Contents
- Link to all videos
- Bankruptcy Basics - Part 1: Introduction
- Bankruptcy Basics - Part 2: Types of Bankruptcy
- Bankruptcy Basics - Part 3: Limits of Bankruptcy
- Bankruptcy Basics - Part 4: Filing for Bankruptcy
- Bankruptcy Basics - Part 5: Creditors' Meeting
- Bankruptcy Basics - Part 6: Bankruptcy Crime
- Bankruptcy Basics - Part 7: Courts Hearings
- Bankruptcy Basics - Part 8: The Discharge
- Credit Counseling Requirements
- Personal Financial Management
- Reaffirmation
Link to all videos: www.cacb.uscourts.gov
Bankruptcy Basics - Part 1: Introduction
What is bankruptcy? What happens in a bankruptcy case? Bankruptcy is a legal process that provides relief for individuals who can no longer pay all of their debts. If you are considering bankruptcy, this video will give you basic information about the process, the relief it offers, and how to find the legal help you need.
Bankruptcy Basics - Part 2: Types of Bankruptcy
A brief review of the three main types of bankruptcy cases for individuals chapters 7, 11, and 13. The most common types of bankruptcy are chapter 7, which are liquidating bankruptcy, and chapter 13 cases, often used by individuals who want to catch up on past due mortgage or car loan payments and keep their assets.
Bankruptcy Basics - Part 3: Limits of Bankruptcy
Certain types of debt, such as child support, alimony, and most student loans, cannot be discharged in bankruptcy. Wrongful conduct may make some debts non-dischargeable. Examples of such conduct are incurring credit card charges without the intent or ability to repay, or obtaining loans using false financial information.
Bankruptcy Basics - Part 4: Filing for Bankruptcy
How does someone file a bankruptcy case? In order to file for bankruptcy, an individual must take a credit counseling course to learn about alternatives to bankruptcy as well as accurately complete and file a number of documents.
Bankruptcy Basics - Part 5: Creditors' Meeting
Every debtor is required to appear at a creditors' meeting conducted by a trustee who asks the debtor questions about the debtor's financial condition and gives creditors the opportunity to do the same.
Bankruptcy Basics - Part 6: Bankruptcy Crime
A debtor must be honest and accurate in dealing with the court or face serious consequences, including being charged with a bankruptcy crime.
Bankruptcy Basics - Part 7: Courts Hearings
In some cases, a debtor may be required to appear at hearings before a bankruptcy judge.
Bankruptcy Basics - Part 8: The Discharge
Debtors are usually able to discharge most or all of their debts. Once a debt is discharged, a creditor may not attempt to collect it from the debtor.
Personal Financial Management
This video explains the requirements for completing the personal financial management course which is the second debtor education course for chapter 7 or chapter 13 individual debtor after filing for chapter 7 or chapter 13 bankruptcy but before the debtor can obtain the order of discharge the debtor must complete an instructional course in personal financial management from an approved provider.
Reaffirmation
This video will provide important information for debtors regarding reaffirmation agreements. The United States Court glossary defines a reaffirmation agreement as "an agreement by a debtor to continue paying dischargeable debt after the bankruptcy, usually for the purpose of keeping collateral or mortgage property that would otherwise be subject to repossession."