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Applicability Of Chapters
(a) Except as provided in section 1161 of this title, chapters 1, 3, and 5 of this title apply in a case under chapter 7, 11, 12, or 13 of this title. (b) Subchapters I and II of chapter 7 of this title apply only in a case under such chapter. (c) Subchapter III of chapter 7 of this title applies only in a case under such chapter concerning a stockbroker. (d) Subchapter IV of chapter 7 of this title applies only in a case under such chapter concerning a commodity broker. (e) Scope of Application.— Subchapter V of chapter 7 of this title shall apply only in a case under such chapter concerning the liquidation of an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 of the Federal Deposit Insurance Corporation Improvement Act of 1991. (f) Except as provided in section 901 of this title, only chapters 1 and 9 of this title apply in a case under such chapter 9. (g) Except as provided in section 901 of this title, subchapters I, II, and III of chapter 11 of this title apply only in a case under such chapter. (h) Subchapter IV of chapter 11 of this title applies only in a case under such chapter concerning a railroad. (i) Chapter 13 of this title applies only in a case under such chapter. (j) Chapter 12 of this title applies only in a case under such chapter.
Chapter 13 bankruptcy law is frequently referred to as a “wage earner” chapter
Although it is available to individuals with regular income from any source, not just wages. Once the court confirms the plan, it is the responsibility of the debtor to make the plan succeed. The debtor must make regular payments to the trustee, which will require adjustment to living on a fixed budget for a prolonged period.
Definition:
The repo laws: If you don't make your car payments for a number of months, your lender may repo or repossess your car. Without a car you may not be able to get to work.
Chapter Ten
Definition:
A new chapter of the bankruptcy code proposed in 1992 and pending in 1993. Chapter 10, like Chapter XI of the old code, is designed for small business reorganizations.
Set-off
Definition:
The ability to discharge or reduce a debt by applying a counter claim between the same parties.
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Absecon
Asbury Park
Atlantic City
Bayonne
Blackwood
Bloomfield
Brick
Bridgeton
Bridgewater
Clementon
Clifton
East Brunswick
East Orange
Edison
Elizabeth
Englishtown
Fort Lee
Freehold
Hackensack
Hoboken
Howell
Jackson
Jersey City
Kearny
Lakewood
Linden
Marlton
Millville
Monroe Township
Morristown
Mount Holly
Mount Laurel
New Brunswick
Newark
North Bergen
North Brunswick
Old Bridge
Passaic
Paterson
Perth Amboy
Piscataway
Plainfield
Princeton
Sewell
Somerset
Teaneck
Toms River
Trenton
Union
Vineland
Wayne
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