General Overview of the Primary Protection Granted to a Debtor Under the United States Bankruptcy Code -

The United States Bankruptcy Code, through its various chapters, governs bankruptcy and reorganization for individuals, corporations, limited liability companies, partnerships, farmers and municipalities in the United States of America. The Bankruptcy Code is federal law and it applies in all States of the United States. There are no separate “bankruptcy” laws in the individual States. Most States have their own insolvency, receivership, and assignment-for-the-benefit-of-creditors laws, but they are not as widely used....