100% Original, Plagiarism Free, Tailored to your instructions

Order Now!

Bankruptcy Law and Questions


Explain joint petition, consolidation and joint administration

Joint petition in bankruptcy proceedings refers to a situation whereby the husband and the wife file bankruptcy proceedings together. It is immaterial whether the wife of the husband who seeks to be adjudged bankrupt. The most essential element is that the petition is presented before the court by the husband and wife as the main parties to the bankruptcy proceedings. Consolidation in bankruptcy means bringing together many debts or credit lines. The main aim of consolidation is to device a payoff plan for all the available debts. It may also refer to debt settlement arrangement (Parsons, 322).
Joint administration is a legal instrument whereby several lawsuits are administered together. Joint administrations are designed to save time and dispense the mechanism with the same questions of law and fact expeditiously. However, it is the duty of the court to ascertain that there is no potential or existing conflict of interests between the parties. The main advantage of joint administration is that the two separate individuals or business entities minimize the cost of hiring bankruptcy professionals since the cost is shared (Parsons, 276).

What is an involuntary petition?

Involuntary petition is a bankruptcy petition that occurs when creditors make a request in court through a petition to the effect that the creditor should be declared bankrupt. It is to be remembered that the petition is by the creditors and not the debtor. It is the creditor’s right to make the petition, however, the right must be a creature of a statute. Bankruptcy is declared on the debtor once the court approves the petition. Involuntary petition facilitates the collection of debts by creditors. It is imperative to note that the debtor has the right to object the involuntary proceeding. Nonetheless, this is only if the debtor proves that the creditors are forcing him or her to involuntary bankruptcy. The court conducts a hearing after the filing of the objection, and if the debtor wins, he or she is entitled to lawyer fees and all other costs associated with the filing of the defense (Parsons, 326).

What are the federal exemptions and what is the right of states to opt out?

A federal exemption refers to personal property and any other property that is excluded from the list of the available property ready for distribution to the creditors. The rights created for individuals who are adjudged bankruptcy must be expressed by the respective law. The properties exempted may include matrimonial home and money held by the debtor on trust. However, the exemption may be waived in instances whereby the debtor includes the exempted property in the list of the property available for distribution upon bankruptcy (Parsons, 467).
At a point where the property under federal exemption is to be determined, the wording of different laws relating to bankruptcy in the states is considered. Matrimonial home and household items are exempt from the bankruptcy estate. Household items include bedding, family heirlooms, and furniture. It is the discretionary of the debtor to exclude the property from the list of properties. The state has a chance of opting out in instances when the debtor waives the exemption preceding bankruptcy proceedings (Parsons, 417).

What is the Automatic Stay?

An automatic stay has the powers of bringing the entire bankruptcy process at a halt. This refers to a sanction that has the effect of habitually stopping all orders. Such orders include litigation, foreclosure and garnishee in respect to the debtor. In addition, all creditors or bankruptcy trustee activities in the realization of the debtor’s property are subsequently automatically stopped (Parsons, 405).

Our Service Charter

  1. Excellent Quality / 100% Plagiarism-Free

    We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers.
  2. Free Revisions

    We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed.
  3. Confidentiality / 100% No Disclosure

    We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service.
  4. Money Back Guarantee

    If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit.
  5. 24/7 Customer Support

    We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.

Excellent Quality
Zero Plagiarism
Expert Writers

Instant Quote

Single spaced
approx 275 words per page
Urgency (Less urgent, less costly):
Total Cost: NaN

Get 10% Off on your 1st order!