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1. BANKRUPTCY LAW

2. Table of content
•Historical Background
•Title 11 of the USA Code
•Discharge in Bankruptcy
•Chapter 7 and 13
•SWOT analysis
•Solution to Implementation Difficulties
•Our contacts

3. Historical background
•“Bankruptcy” comes from mixing ancient Latin
words bancus-a bench or table and ruptus-broken
•People gathering in public places with benches
•Lend money to borrowers who would return it with
interests
•The tax collectors would come to their bench and
smashed it with an axe
•Italian roots since bench in Italian is “banca” and
ruined is “rotta”
•French expression “banque route, table trace.”

4. Title 11 of the USA Code
Purpose: “it gives to the honest but unfortunate
debtor…a new opportunity in life and a clear field
for future effort, unhampered by the pressure and
discouragement of preexisting debt .”
•The United States Congress established the
bankruptcy administrator program in 1986.
•The bankruptcy administrator offices are located in
the six judicial districts of Alabama and North
Carolina.

5. Discharge in Bankruptcy
•Debtor is released from personal liability
•No longer legally required to pay the debt
•Prohibits the creditor of the debtor from taking any
form of collection action on discharged debts
•A discharge is a permanent ruling, but it might be
revoke
•Not all debts are discharged
•Voluntarily repay any discharge debt

6. Chapter 7 Bankruptcy
Chapter 7 of the Bankruptcy Code is for the discharge of
debts, which is the traditional bankruptcy. Under Chapter 7,
you either pay for or give up your property for secured debts.
You surrender any nonexempt property in order to pay off as
much of your other debt as possible
0
Types
Chapter 13 Bankruptcy
In a Chapter 13 bankruptcy, you are not seeking to get rid of all
of your debt entirely, but only to do one or a combination of
the following:
• restructure your payments so they are more manageable,
considering your income
•get rid of part of your debt so that you can manage payments

7. Strengths
•Automatic Stay
•Protection Discharged
•Protection of Property
•Repayment Plan
Opportunities
•Fresh Start
•Continuation of the business
•Learn from mistakes
Weaknesses
•Lawyer is needed
•Limitations on types of debts
•Effect on credit
•Cost of filing for bankruptcy
Threats
•Fraud
•Changes in regulations
•Property loss

8. Solutions to the Difficulties
Clearly dictate: 1. who is eligible 2. amount of debt
Seminars about the subject
Bankruptcy abuse prevention and consumer protection act
More marketing
Guidance to make a repayment plan
Availability of information

9. 801 N. Brand Blvd. Suite 210
Glendale, CA 91203
Tel. (818) 553-1000
Fax (818) 553-1005
www.facebook.com/MargarianLaw
www.linkedin.com/company/margarian-law
https://www.youtube.com/user/dealerfraudlawyer
CONTACT US

10. For further information visit:
http://margarianlaw.com/
https://goo.gl/dpmD9m
https://en.wikipedia.org/wiki/Bankruptcy

11. Thank you!