LEGAL 263 - Debtor/Creditor and Bankruptcy Law

5.0 Credits
The study of bankruptcy fundamentals and the laws on consumer fair debt collection practices and creditor rights and remedies. Emphasis on the Federal Bankruptcy Act, bankruptcy court procedures, and the paralegal’s role in preparing bankruptcy forms and related documents.
Prerequisite LEGAL 200 or instructor permission.
Course-level Learning Objectives (CLOs)
Upon successful completion of this course, students will be able to:

Demonstrate an understanding of the sources of law governing debtor/creditor relations, including loans, credit arrangements, credit reporting, and fair debt collection practices.
Describe the alternatives to bankruptcy available to debtors and creditors.
Prepare documents and follow the procedures required for attachment, execution, and garnishments.
Distinguish among Chapter 7, 9, 11, 12, and 13 bankruptcies, and identify the procedures for selecting the appropriate bankruptcy filing.
Demonstrate basic knowledge related to the bankruptcy estate, exemptions, and the automatic stay.
Understand and demonstrate knowledge related to the appointment of an interim trustee, creditors’ meetings, proofs of claims, contested matters and adversary proceedings, and objections to exemptions.
Identify and complete basic tasks for filing a bankruptcy petition, schedules, and statement of financial affairs, reaffirmation agreements, discharge, distribution of the property of the estate, and closing the case.
Identify the role of lawyers, paralegals, debtors, creditors and other parties in interest, the bankruptcy judge and his or her staff, the office of the clerk of the bankruptcy court, and the various types of trustees operating under the Bankruptcy Act.
Discuss the ethical considerations of paralegals working in a debtor/creditor and bankruptcy law practice.