Basics of Bankruptcy Law


Welcome to Lawshelf’s video-course on the basics of bankruptcy law. This video-course surveys bankruptcy law and focuses on the most common forms of bankruptcy and most important rules. The course opens by looking at the structure of the bankruptcy code, the system of bankruptcy courts and roles of federal and state law in the bankruptcy process. We also look at the roles of the debtor, the creditors, the court and the bankruptcy trustee.

We then focus on rules common to bankruptcy proceeding, including the all-important automatic stay, the effects of bankruptcy discharge and exempt property.

Module 2-4 look at the specifics of the three most common types of bankruptcies: those under Chapters 7, 11 and 13 of the Bankruptcy Code. In each case, we’ll look at eligibility and the rules, qualifications and procedures that govern bankruptcy under that Chapter.

Chapter 7 bankruptcy is liquidation, wherein all the assets of the debtor except for exempt property are vulnerable to collection, but which affords the debtor a discharge on most outstanding debts. We’ll look at the requirements for achieving this relief, the procedures followed by the trustee and the scope of the allowable discharge.

Chapter 11 and 13 are “plan” bankruptcies, under which the debtor re-organizes debts in negotiation with the creditors and under court supervision. Generally, Chapter 11 is used by companies, while Chapter 13 is only available for individuals. In both cases, we’ll look at the timelines and processes of the proceedings and the enforcement, modification or conversion of the applicable bankruptcy proceeding.

Finally, in Module 5, we’ll look at the forms and filings applicable to bankruptcy proceedings, including the petition, schedules and filing fees. We’ll also briefly look at bankruptcy crimes and penalties and other some laws that affect bankruptcy cases.

Once you complete this course, you should have a comprehensive understanding of the structure of the Bankruptcy Code and system, an understanding of how the bankruptcy system works and a basis upon which to research and learn more detailed necessary information.

Best of luck and we welcome your feedback!


Overview of Bankruptcy - Module 1 of 5


Chapter 7 Liquidation - Module 2 of 5


Chapter 11 Reorganization - Module 3 of 5


Chapter 13 Reorganization - Module 4 of 5


Bankruptcy Forms, Filing and Other Matters - Module 5 of 5

Final Exam only needs to be taken by those seeking to earn the Digital Badge credentials for this course.