bankruptcy law

简明释义

破产法;

英英释义

例句

1.A lawyer specializing in bankruptcy law can help you navigate the process effectively.

专门从事破产法的律师可以帮助你有效地处理这一过程。

2.In some cases, bankruptcy law allows for the restructuring of debt rather than liquidation.

在某些情况下，破产法允许重组债务而不是清算。

3.The recent changes in bankruptcy law have made it easier for individuals to file for bankruptcy.

最近的破产法变化使个人申请破产变得更加容易。

4.Understanding bankruptcy law is crucial for anyone considering filing for bankruptcy.

理解破产法对于任何考虑申请破产的人来说都是至关重要的。

5.Many businesses turn to bankruptcy law when they can no longer pay their debts.

许多企业在无法偿还债务时会求助于破产法。

作文

Bankruptcy is a legal process that allows individuals or businesses to seek relief from their debts when they are unable to pay them. The framework governing this process is known as bankruptcy law, which provides the guidelines and procedures for filing for bankruptcy, the rights of creditors, and the responsibilities of debtors. Understanding bankruptcy law is crucial for anyone who may find themselves in financial distress, as it offers various options to manage overwhelming debt. In the United States, bankruptcy law is primarily governed by federal law, specifically Title 11 of the United States Code. There are several types of bankruptcy filings, with Chapter 7 and Chapter 13 being the most common. Chapter 7 bankruptcy is often referred to as 'liquidation bankruptcy' because it involves selling off non-exempt assets to pay creditors. In contrast, Chapter 13 bankruptcy allows individuals to keep their property while creating a repayment plan to pay back their debts over a period of three to five years. The implications of bankruptcy law extend beyond just the immediate relief from debt. Filing for bankruptcy can have long-term effects on an individual's credit score, making it more challenging to secure loans or credit in the future. However, understanding the provisions of bankruptcy law can help individuals make informed decisions about whether to file for bankruptcy and which chapter to choose. In addition to individual bankruptcies, bankruptcy law also applies to businesses. When a company faces insurmountable debt, it may file for bankruptcy protection to reorganize its debts and continue operations. This process can involve negotiating with creditors to reduce debt amounts or extend payment timelines. For businesses, understanding bankruptcy law is essential not only for survival but also for potential recovery and growth after restructuring. One of the critical aspects of bankruptcy law is the automatic stay, which halts all collection activities against the debtor once a bankruptcy petition is filed. This provision provides immediate relief and allows the debtor to regroup without the constant pressure of creditor demands. However, there are exceptions to the automatic stay, and certain actions, such as child support payments or criminal proceedings, may still proceed. Moreover, bankruptcy law includes provisions that prevent certain debts from being discharged, such as student loans, tax obligations, and child support. Understanding these nuances is vital for anyone considering bankruptcy, as it helps set realistic expectations about what can be achieved through the process. In conclusion, bankruptcy law plays a pivotal role in the financial landscape, offering a structured way for individuals and businesses to address unmanageable debt. Whether one is facing personal financial difficulties or running a struggling business, knowledge of bankruptcy law can provide valuable insights and options for recovery. It is advisable to consult with a legal professional who specializes in bankruptcy law to navigate the complexities of the process effectively and to ensure that one's rights are protected throughout. With the right guidance, bankruptcy can serve as a fresh start rather than an end, allowing individuals and businesses to rebuild their financial futures.

破产是一个法律程序，允许个人或企业在无法偿还债务时寻求债务减免。管理这一过程的框架被称为破产法，它提供了申请破产的指导方针和程序、债权人的权利以及债务人的责任。理解破产法对任何可能面临财务困境的人来说都是至关重要的，因为它提供了多种选项来管理压倒性的债务。在美国，破产法主要由联邦法律管理，具体是《美国法典》第11篇。有几种类型的破产申请，其中第7章和第13章是最常见的。第7章破产通常被称为“清算破产”，因为它涉及出售非豁免资产以偿还债权人。相反，第13章破产允许个人保留其财产，同时创建一个还款计划，在三到五年的时间内偿还债务。破产法的影响不仅限于立即减轻债务。申请破产可能对个人的信用评分产生长期影响，使未来获得贷款或信用变得更具挑战性。然而，理解破产法的条款可以帮助个人就是否申请破产及选择哪个章节做出明智的决定。除了个人破产外，破产法也适用于企业。当公司面临难以承受的债务时，它可能会申请破产保护，以重组其债务并继续运营。这个过程可能涉及与债权人谈判，以减少债务金额或延长付款时间。对于企业而言，理解破产法不仅对生存至关重要，而且对重组后的潜在恢复和增长也是必不可少的。破产法的一个关键方面是自动中止，一旦提交破产申请，所有针对债务人的收款活动都会暂停。这一条款提供了即时救济，让债务人可以在没有债权人要求的持续压力下重新调整。然而，自动中止也有例外，某些行动，如子女抚养费支付或刑事诉讼，仍然可以进行。此外，破产法还包括防止某些债务被解除的条款，例如学生贷款、税务义务和子女抚养费。理解这些细微差别对于考虑破产的任何人来说至关重要，因为这有助于设定通过该过程可以实现的现实期望。总之，破产法在金融领域中发挥着关键作用，提供了一种结构化的方式，让个人和企业解决无法承受的债务。无论是面临个人财务困难还是经营一家陷入困境的企业，了解破产法可以为恢复提供宝贵的见解和选项。建议咨询专门从事破产法的法律专业人士，以有效导航过程的复杂性，并确保在整个过程中保护自己的权利。在正确的指导下，破产可以作为一个新的起点，而不是结束，允许个人和企业重建他们的金融未来。