Title 11: Ch. 11, Sub. 1, Section 1115
(a) In a case in which the debtor is an individual, property of the estate includes, in addition to the property specified in section 541—
(1) all property of the kind specified in section 541 that the debtor acquires after the commencement of the case but before the case is closed, dismissed, or converted to a case under chapter 7, 12, or 13, whichever occurs first; and
(2) earnings from services performed by the debtor after the commencement of the case but before the case is closed, dismissed, or converted to a case under chapter 7, 12, or 13, whichever occurs first.
(b) Except as provided in section 1104 or a confirmed plan or order confirming a plan, the debtor shall remain in possession of all property of the estate.
Explanation: If you have filed bankruptcy as an individual (not a business), then property or earnings you obtain after you filed for bankruptcy also become part of your estate. This will continue until the case has been "closed, dismissed, or converted".
Phoenix Personal Injury Lawyers
Abogado Phoenix accidente de auto
Title 11: Ch. 11, Sub. 1, Section 1116
In a small business case, a trustee or the debtor in possession, in addition to the duties provided in this title and as otherwise required by law, shall:
(1) append to the voluntary petition or, in an involuntary case, file not later than 7 days after the date of the order for relief:
(A) its most recent balance sheet, statement of operations, cash-flow statement, and Federal income tax return; or
(B) a statement made under penalty of perjury that no balance sheet, statement of operations, or cash-flow statement has been prepared and no Federal tax return has been filed;
(2) attend, through its senior management personnel and counsel, meetings scheduled by the court or the United States trustee, including initial debtor interviews, scheduling conferences, and meetings of creditors convened under section 341 unless the court, after notice and a hearing, waives that requirement upon a finding of extraordinary and compelling circumstances;
(3) timely file all schedules and statements of financial affairs, unless the court, after notice and a hearing, grants an extension, which shall not extend such time period to a date later than 30 days after the date of the order for relief, absent extraordinary and compelling circumstances;
(4) file all postpetition financial and other reports required by the Federal Rules of Bankruptcy Procedure or by local rule of the district court;
(5) subject to section 363 (c)(2), maintain insurance customary and appropriate to the industry;
(6)
(A) timely file tax returns and other required government filings; and
(B) subject to section 363 (c)(2), timely pay all taxes entitled to administrative expense priority except those being contested by appropriate proceedings being diligently prosecuted; and
(7) allow the United States trustee, or a designated representative of the United States trustee, to inspect the debtor’s business premises, books, and records at reasonable times, after reasonable prior written notice, unless notice is waived by the debtor.
Explanation: For small businesses that declare bankruptcy, there are additional duties for the debtor or trustee who holds the property. These duties mean there are more obligations that must be fulfilled in dealing with the case.
Phoenix Arizona DUI Attorneys, DWI Lawyer
Title 11: Ch. 11, Sub. 2, Section 1121 (Portion)
(a) The debtor may file a plan with a petition commencing a voluntary case, or at any time in a voluntary case or an involuntary case.
(b) Except as otherwise provided in this section, only the debtor may file a plan until after 120 days after the date of the order for relief under this chapter.
(c) Any party in interest, including the debtor, the trustee, a creditors’ committee, an equity security holders’ committee, a creditor, an equity security holder, or any indenture trustee, may file a plan if and only if:
(1) a trustee has been appointed under this chapter;
(2) the debtor has not filed a plan before 120 days after the date of the order for relief under this chapter; or
(3) the debtor has not filed a plan that has been accepted, before 180 days after the date of the order for relief under this chapter, by each class of claims or interests that is impaired under the plan.
Explanation: When reorganizing the debt under Chapter 11, a debtor can file a plan concerning the case/property. Another person/entity, who has an interest in the case, can file a plan but it's restricted. To read the full section, click U.S. Code.
Phoenix Family Law Attorney Arizona
Phoenix Personal Injury and Accident Lawyers
Title 11: Ch. 11, Sub. 2, Section 1122
(a) Except as provided in subsection (b) of this section, a plan may place a claim or an interest in a particular class only if such claim or interest is substantially similar to the other claims or interests of such class.
(b) A plan may designate a separate class of claims consisting only of every unsecured claim that is less than or reduced to an amount that the court approves as reasonable and necessary for administrative convenience.
Explanation: As a debtor, when you file your plan, you can't place a claim anywhere; Rather it has to be correctly categorized.
Phoenix abogado lesiones personales
Phoenix Arizona accidente abogado