Classes in bankruptcy law are typically offered in J.D. (Juris Doctor) or LL.M. (Master of Laws) programs. A J.D. program is the standard academic requirement for aspiring lawyers, while an LL.M. program is typically designed for licensed lawyers.
In bankruptcy law courses, students learn the procedures for declaring bankruptcy as a business or consumer, and they learn how declaring bankruptcy affects individuals and businesses. Students will learn about torts, United States bankruptcy laws and how to file on behalf of businesses and individual clients. Students will also study past cases and will have opportunities to practice making a case for bankruptcy in a mock court class.
Here are some concepts commonly explored in bankruptcy law courses:
- Consumer debt
- Filing motions
- Debtors' rights
- Chapter 11
- Chapter 13
List of Classes
Bankruptcy in the United States Course
Students studying bankruptcy law in this course learn how one can gain debt relief in the United States. They examine the Bankruptcy Reform Act and identify ways that bankruptcy affects consumer's credit rating and the ability to obtain future loans. Students also discuss how bankruptcy is handled in other nations and discover the leading causes of consumer bankruptcy both in the United States and abroad.
Business Bankruptcy Course
Students taking this course learn how and when a business should file for bankruptcy. They study issues surrounding a business bankruptcy, such as what happens with the cash, how is the sale of the property handled and how are employees affected. The entire bankruptcy process may be examined, including ways a company can avoid bankruptcy, what legal restraints the business must deal with and what methods are available to creditors for retrieving a good faith payment from a company declaring bankruptcy.
Personal Bankruptcy Course
Students examine what happens when an individual declares bankruptcy. Students study what happens to the property and what it means to get a fresh start as a result. Procedures for satisfying creditors are covered in this course,as well as ways to to recognize individuals who use bankruptcy repeatedly as a solution to their financial problems.
This practical course provides students with the skills needed to present a bankruptcy case. The course features mock situations where students act out representation of fictional individuals filing bankruptcy, This includes gathering information, filing the correct paperwork and presenting the case to a judge. Some students gain experience by working with bankruptcy lawyers on actual cases.
Students learn about torts, which are civil wrongs that may result in a lawsuit. While this course covers all aspects of tort law, included is discussion of torts that pertain specifically to bankruptcies, such as hiding personal property and misrepresenting financial means. This course is a required course for law students.