View Full Version : United States filed bankruptcy under what chapter?

08-15-11, 03:05 PM
Chapter 7; Chapter 9; Chapter 11; Chapter 12; Chapter 13 or Chapter 15?

Bankruptcy laws help people who can no longer pay their creditors get a fresh start – by liquidating assets to pay their debts or by creating a repayment plan. Bankruptcy laws also protect troubled businesses and provide for orderly distributions to business creditors through reorganization or liquidation.

Most cases are filed under the three main chapters of the Bankruptcy Code – Chapter 7, Chapter 11, and Chapter 13. Federal courts have exclusive jurisdiction over bankruptcy cases. This means that a bankruptcy case cannot be filed in a state court.

08-15-11, 03:39 PM
Bankruptcy is a form of discharge.

I like to think of it as mimicry of the "Year of Release" or the Jubilee Year.

08-15-11, 04:01 PM
This year of release typified the grace of the gospel, in which is proclaimed the acceptable year of the Lord; and by which we obtain the release of our debts, that is, the pardon of our sins.

The law is spiritual, and lays restraints upon the thoughts of the heart. We mistake, if we think thoughts are free from God's knowledge and check.

That is a wicked heart indeed, which raises evil thoughts from the good law of God, as theirs did, who, because God had obliged them to the charity of forgiving, denied the charity of giving.

Those who would keep from the act of sin, must keep out of their minds the very thought of sin. It is a dreadful thing to have the cry of the poor justly against us.

Grudge not a kindness to thy brother; distrust not the providence of God. What thou doest, do freely, for God loves a cheerful giver, 2Co 9:7. (De 15:12-18)

At the end of every seven years you must cancel debts. Deuteronomy 15:1

Maybe I should rephrase the question: The United States (the resemblance of one organism to another or to an object in its surroundings) filed bankruptcy (for concealment or protection from predators) under what chapter?