McCord & Hemphill | Bend Attorneys | Bankruptcy | Estate Law

bankruptcy basics

The Bankruptcy Hearing: The “Meeting of Creditors” or “341 Hearing”

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Brian Hemphill Last updated: October 19th, 2020 In every bankruptcy proceeding, the debtor must attend a hearing called the “Meeting of Creditors” and submit to an examination under oath.  The hearing is sometimes also called the “341 Hearing” because it is required by Section 341 of the Bankruptcy Code. In most bankruptcy cases, the Meeting... [Read More]

Bankruptcy Exemptions

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Brian Hemphill Last updated: October 19th, 2020 Reading time: 8 minutes One breath summary: Exemptions are a fundamental concept in the bankruptcy system.  Determining which assets are exempt in bankruptcy has a critical impact on a bankruptcy case.  It is incredibly important that a person considering filing for bankruptcy protection understand what exemptions are and... [Read More]

Who is the Bankruptcy Trustee?

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Brian Hemphill Last updated: October 15th, 2020 When you get involved with bankruptcy proceedings, you hear a lot about the “trustee”. The bankruptcy trustee plays a critical role in bankruptcy, so it is important for you to understand who the bankruptcy trustee is and the bankruptcy trustee’s role in a bankruptcy case.  Generally speaking, the... [Read More]

What is the “Bankruptcy Estate”?

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Brian Hemphill Last updated: October 19th, 2020 Reading time: 5 minutes One breath summary: When you file for bankruptcy, most of your assets and property rights become part of a bankruptcy estate owned and controlled by the court, with few exceptions and exemptions. Before you file, it's incredibly important that you understand what part of... [Read More]

Bankruptcy Laws: What rules apply in Bankruptcy?

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Brian Hemphill Last updated: October 23rd, 2020 Reading time: 4 minutes One breath summary: Several sets of intertwining laws and rules apply to bankruptcy proceedings.  Bankruptcy is generally controlled by federal laws, but some other laws play a role. First and foremost, your right to bankruptcy relief derives from the United States Constitution.  Article I, Section... [Read More]

What is the “Bankruptcy Code”?

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Brian Hemphill Last updated: October 23rd, 2020 People involved in the bankruptcy system often refer to the “Bankruptcy Code”, or simply, “the Code”.  The Bankruptcy Code is the set of federal laws that governs all bankruptcy cases in the United States. The Code is found in Title 11 of the United States Code.  It is divided... [Read More]