Members, Florida Bar:
Kathryn A. Hathaway, Esq.
Board Certified in Consumer Bankruptcy
by the American Board of Certification
Wayne E. Sprague, Esq.
Certified Information Systems Security Professional
Mail: P.O. Box 3005, Tallahassee Fl. 32315 ♠ Office: 115 W. 4th Ave. Tallahassee, Fl. 32303 ♠ 850) 425-4700 ♠ 850) 4704 (fax)
Website: www.hathawaylaw.net ♠ Email: firstname.lastname@example.org; email@example.com
The information provided herein is being provided to you for the dissemination of general information of the law only.
There are many variables and exceptions to some of the written sections within this document, which could result in a
different finding than the norm. Further, the information being provided here is a small percentage of the total statutes
involved in various legal actions. Even if some of the provided information seems to apply, your given facts may apply
the law differently. Legal counsel should be considered by anyone who would venture into the area of legal actions.
What is a Bankruptcy?
Introduction to Bankruptcy
The United States Code has established a procedure that enables debtors to manage debt by
seeking relief in the federal court system. The Federal Bankruptcy Act contemplates several
different ways to manage this debt and in some cases to pay some or all of your creditors.
Because the federal statutes and procedures change with each new Congress, this discussion is
intended only to serve as a source of background information leaving it to each Plan Member to
consult with a Bankruptcy attorney in the event bankruptcy seems to be an option.
For consumers there are at least two different statutory bodies of law by which to obtain relief
from one’s creditors: Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. These are named for the
Sections in which they appear in the Federal Bankruptcy Act. [There is also a Chapter 11
procedural scheme that allows businesses to reorganize.]
Chapter 7 is the traditional means of dec