Military Personnel: Bankruptcy Filings among Active Duty Service Members

Abstract

A declaration of bankruptcy is an extreme example of the failure to manage personal finances. Debtors who file personal bankruptcy petitions usually file under chapter 7 or chapter 13 of the bankruptcy code. Generally, debtors who file under chapter 7 of the bankruptcy code seek a discharge of all their eligible dischargeable debts. Debtors who file under chapter 13 submit a repayment plan, which must be confirmed by the bankruptcy court, for paying all or a portion of their debts over a 3-year period unless, for cause, the court approves a longer period not to exceed 5 years.

Open PDF

Document Details

Document Type
Technical Report
Publication Date
Feb 27, 2004
Accession Number
AD1170024

Entities

People

  • Derek B. Stewart
  • Jack R. Edwards

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Accounting
  • Active Duty
  • Bankruptcy
  • Business Administration
  • Congress
  • Data Centers
  • Department Of Defense
  • Employment
  • Enlisted Personnel
  • Families (Human)
  • Financial Management
  • Governments
  • Health Care
  • Law
  • Management Personnel
  • Military Families
  • Military Personnel
  • Personnel Management
  • Revenue
  • United States
  • Warrant Officers
  • Websites

Readers

  • Government and Public Administration Law.