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Consumer Bankruptcy › Set Off

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
BCLP

Bankruptcy Court Reluctantly Allows Creditor To Shuck “Lil’ Sweet Pea” Accounts

BCLP on

Any first-year law student could attest that understanding what the law is can be a difficult task, in part because the law is not always applied consistently by courts. This problem gives rise to a maxim law professors often...more

Kramer Levin Naftalis & Frankel LLP

Debt Dialogue: August 2017 - Setoff and Recoupment in Bankruptcy: A Brief Overview

Kramer Levin Naftalis & Frankel LLP on

This article provides a brief overview of the somewhat related doctrines of setoff and recoupment in the Chapter 11 context. Setoff is recognized in the Bankruptcy Code to offset the claims of creditors and the debtor in a...more

Goodwin

Exercise of Post-Petition Right to Setoff Without Court Permission Violated Automatic Stay

Goodwin on

On November 16, 2016, the United States Bankruptcy Court for the Western District of Kentucky found that a creditor exercising its post-petition right to setoff without bankruptcy court permission had violated the automatic...more

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