Only the bankruptcy court can lift the stay. It can be lifted under some circumstances (for example, it has to be lifted in order to file divorce since divorce affects property rights).
Congress sets out the substantive BK law. The BK courts create their own BK procedures and local rules.
No. First off there is no NH Bankrutpcy Court...Bankruptcy Courts are ALL Federal, as are the BK laws. Feds always trump State courts...and BK Courts have a great deal of power even over other Federal ones.
A BK stays on your credit record for 10 years.
Bankruptcy Courts handle bankruptcy...and they are type of Federal court. Maybe because the BK laws re federal, the effect of BK crosses State lines in almost all cases (a BK in say Calif very likely owes money to creditors in NY)...etc., the availability of it to all and te at least basic fairness to both creditors and debtors demands it. "We the State of ABC hereby make a law that only residents of ABC may receive any payment by debtors in BK, all others get nothing, because they ain't us".
An elevator or lift.
It stays in the air because of "lift" Air flows over the wing faster than it flies under the wing, so the plane has "lift" which keeps it up Try this by getting a sheet of paper, holding the two corners at one end and blowing over the top- it will lift up! This is what happens with planes, so the answer to your question is "Lift"
It would be foolish. The Bankruptcy Court can determine how much of your tax liability will be paid and how much forgiven in the BK. Federal BK Courts have very broad authority and even trump the Fed Tax Courts. Besides being "foolish", the answer is no. You cannot file an Offer in Compromise, and the IRS cannot accept an Offer in Compromise, if you are in bankruptcy proceedings.
Bankruptcy is a Federal matter. All BK courts are Federal Circuit Courts. They are named for the area they generally service...like US Federal Bankruptcy Court for the District of Northern Arizona....or such. To facilitate handling of cases, the Courts tend to interpret certain areas of the Law as best fits their regions...as in Community Property states compared to ones that aren't, what is the definition of real estate, that type of thing. But the BK laws are really the same anywhere in the country.
the term 'BK' stands for burger king. if someone calls you a 'bk' they are probably referring to you as a 'Bk Random' which is just a random person..the bk is totally irrelevant.It means Bad Kid.
A chapter 7 should be about 3-4 months. A chapter 13 can be between 3-5 years. A BK stays on your credit report for 10 years.
Untill aprox 1999 it was Mobile Tool Int aka Telsta they filed Bk and was bought for pennies on the dollar by Altec inc William...
Sandefjord BK was created on 1917-02-27.