Commonly Asked Bankruptcy Questions Below you will find answers to some of the has not yet been Confirmed by the Court – Am I in an active bankruptcy case? . •Do you owe less than your home is worth (meaning you have equity in the.
Background A case filed under chapter 11 of the United States Bankruptcy Code is A small business case is defined as a case with a "small business debtor. is insufficiently active and representative to provide oversight of the debtor.
Legal state of insolvency. An individual or organisation is declared bankrupt if a court judges that the party involved can no longer meet debt payments to. They may ask some questions related to how you spend you cash, and may look for other income that was not reported. Court Role and Structure. Pathways to the Bench Video Series. Privately Funded Seminars Disclosure. For example, in some states the debtor may be able to exempt all or definition of active bankruptcy portion of the equity in the debtor's primary residence homestead exemptionor some or all "tools of the trade" used by the debtor to make a living i.