Lecture/Discussion - 2 or 3. The course starts with an overview of the law of debt collection when the debtor is not in bankruptcy, including both the tools for collection and some of the restrictions on use of those tools. It then moves into Chapter 7 individual bankruptcy, where the debtor's nonexempt property is liquidated for the benefit of creditors and debts are discharged. This is the simplest and most common type of bankruptcy. It then covers Chapter 13 individual bankruptcy, in which the debtor keeps their property but must complete a payment plan to discharge debts. Finally, it addresses several aspects of business bankruptcy in Chapter 11, which is designed to allow businesses to restructure debts by proposing plans on which creditors vote. Students should be aware that basic math (through fractions and percentages) is used extensively in bankruptcy and will come up a lot in class. The final will require some calculations (calculator allowed).
Final Assessment: Exam
Grading Mode: Letter Grading